.Hello there and also invited to Modern chief executive officer! I am actually Stephanie Mehta, CEO and also chief content officer of Mansueto Ventures. Every week this email list looks into inclusive methods to management reasoned talks along with execs and entrepreneurs, as well as from the web pages of Inc. and Swift Company. If you received this bulletin coming from a good friend, you can easily enroll to obtain it on your own every Monday morning.Being a chief executive officer these days is actually difficult: Pressures include pleasing shareholders, handling rising expenses and addressing ongoing supply-chain problems, as well as developing fantastic workplaces. But also for several executives, being an ex-CEO presents its own set of obstacles. Some struggle to deal with the reduction of the rewards as well as condition that possess the project, while others really feel required to comply with the well-trodden path to personal equity or even corporate panels." Yearly, hundreds of executives retire from long and productive company jobs. However few are gotten ready for the adventure they will embark on," previous Frontier Communications chief executive officer Maggie Wilderotter proclaimed earlier this year in a Harvard Business Assessment essay, penciled with career instructor Rick Johnson and also talent scout Dennis Carey.Life beyond MicrosoftOne past business chieftain who seems to have actually located his ground is actually previous Microsoft CEO Steve Ballmer. Ballmer acquired the Los Angeles Clippers baseball team for $2 billion in 2014 and simply revealed the crew's brand new home, the Intuit Dome. (Rapid Company calls it "Steve Ballmer's $ 2 billion play ground for LA Clippers enthusiasts.") The group and also arena have actually given Ballmer a sense of objective that possesses, somehow, shrouded his adventures at the technician giant. "I've focused on a lot of products throughout my career at Microsoft, and also I have actually adored them all," Ballmer told me during a meeting this month at Intuit Dome facing a viewers that consisted of members of the Youthful Presidents' Organization and also development workers who helped create the establishment and their family members. "However ... in the development of the property, I most likely possessed a more clear perspective of what I would like to carry out, and also I have the most contentment, not even if it thrived, but [due to the fact that] it's an assets in the area, too." Intuit Dome has actually quite been an interest venture for Ballmer, who looked for to guarantee that all fans possess a superior experience. Every seat is made with easy accessibility to deals and also bathrooms, phone demanding functionalities, as well as substantial lower leg room, irrespective of ticket price.Ballmer's significant assets are actually repaying. The Clippers won 51 video games in the 2023-2024 season, and completed 4th in the NBA Western Event. (The Dallas Mavericks dealt with the crew from the playoffs.) As well as Ballmer routinely ranks as one of the leading NBA proprietors in enthusiast polls.He is an unlikely role model for post-CEO lifestyle. His retirement life coming from Microsoft in 2014 after 34 years at the firm and thirteen years as chief executive officer was actually mental as well as laden. Though profits virtually tripled during the course of his period, the equity essentially stagnated, and also the company overlooked the possibility to end up being a gamer in cell phones as well as world wide web services. Struggling from the provider's panel, Ballmer looked for to overhaul the provider before inevitably deciding he was actually not the most effective person to relocate Microsoft forward. A reporter who chronicled his departure from Microsoft defined him as "very unfortunate to leave the firm." CHIEF EXECUTIVE OFFICER, reinventedPart of what produces Ballmer a second-act success tale is that he really did not attempt to recreate his company life. Rather, he confiscated a chance to acquire the Clippers after previous co-owner Donald Sterling was actually banned coming from operating the group or connecting with the NBA. "Having way too many choices can cause decision exhaustion, returning to fail options, or even steering clear of deciding altogether," Wilderotter and also her co-authors point out, suggesting ex-CEOs to rather redefine their reason or even identification. (Ballmer is also creator of USAFacts, a nonpartisan information firm.) Bill George, the past Medtronic chief executive officer who modify himself as a management master after retirement life, has actually said that the previous CEOs that prosper are actually the ones that locate methods "to make or even support things that will definitely outlive them." During our meeting at the field, Ballmer echoed this belief. "Someone informed me the moment, 'No one ever actually has a basketball group. You look after it. You shepherd it, and you take it along,'" he points out. "Intuit Dome could be a small amount of what I do to shepherd this staff throughout. Because it is actually had due to the followers in the end of the day, as well as our company simply look after it." Are you a single CEO in a 2nd act?Are you a former CEO who has found purpose in your 2nd process? How did you handle finding your new identity? Deliver your insights as well as stories to me at stephaniemehta@mansueto.com. I'll share the most compelling examples in a future newsletter.Read and also view even more: 2nd process Relate to the absolute most Cutting-edge Firms Honors and also be identified as an institution driving the planet forward via technology. Early-rate due date: Friday, August 23.