.Hey there and invited to Modern chief executive officer! I'm Stephanie Mehta, CEO and also main content policeman of Mansueto Ventures. Each week this e-newsletter looks into broad techniques to management drawn from talks with execs and also entrepreneurs, and from the web pages of Inc. and Prompt Firm. If you got this email list coming from a close friend, you can join to obtain it on your own every Monday morning.Being a CEO in these times is challenging: Stress consist of fulfilling shareholders, dealing with rising costs and also solving on-going supply-chain issues, and developing wonderful place of work. But for several executives, being actually an ex-CEO presents its own collection of difficulties. Some struggle to deal with the loss of the rewards and also status that possess the task, while others really feel required to follow the well-trodden road to private equity or business boards." Each year, hundreds of managers retire from long and effective corporate careers. However handful of are actually planned for the quest they will start," former Outpost Communications CEO Maggie Wilderotter stated earlier this year in a Harvard Organization Customer review essay, penciled with profession instructor Rick Smith and also talent scout Dennis Carey.Life past MicrosoftOne past company tribal chief who seems to have found his footing is actually past Microsoft chief executive officer Steve Ballmer. Ballmer purchased the Los Angeles Clippers basketball crew for $2 billion in 2014 and also simply introduced the staff's brand-new home, the Intuit Dome. (Fast Company calls it "Steve Ballmer's $ 2 billion playing field for Los Angeles Clippers followers.") The crew as well as sector have provided Ballmer a sense of objective that possesses, in some ways, darkened his adventures at the technology titan. "I have actually dealt with a considerable amount of items over the course of my job at Microsoft, and I've liked them all," Ballmer told me during the course of a meeting this month at Intuit Dome before a viewers that included members of the Young Presidents' Institution and also building workers that helped create the center as well as their loved ones. "However ... in the development of this property, I most likely possessed a more clear viewpoint of what I intended to do, as well as I possess one of the most fulfillment, not even if it prospered, yet [due to the fact that] it's an expenditure in the neighborhood, as well." Intuit Dome has significantly been an interest project for Ballmer, that looked for to make sure that all enthusiasts have a premium knowledge. Every seat is actually designed with effortless accessibility to giving ins as well as washrooms, phone billing functionalities, and adequate lower leg space, despite ticket price.Ballmer's substantial assets are actually paying. The Clippers succeeded 51 video games in the 2023-2024 time, and also ended up fourth in the NBA Western Conference. (The Dallas Mavericks eliminated the staff from the playoffs.) As well as Ballmer routinely positions being one of the top NBA proprietors in enthusiast polls.He is an extremely unlikely good example for post-CEO life. His retirement life from Microsoft in 2014 after 34 years at the business as well as thirteen years as CEO was psychological and also laden. Though incomes almost tripled during the course of his period, the share generally stagnated, and the company missed the opportunity to end up being a player in smart phones as well as internet solutions. Under the gun coming from the business's board, Ballmer found to renew the business just before essentially deciding he was actually certainly not the most ideal individual to move Microsoft ahead. A press reporter who narrated his retirement coming from Microsoft explained him as "really unfortunate to leave behind the provider." CEO, reinventedPart of what helps make Ballmer a second-act results tale is actually that he failed to attempt to recreate his business life. Rather, he seized an option to obtain the Clippers after previous co-owner Donald Sterling was outlawed from operating the team or associating with the NBA. "Possessing way too many options can easily result in selection fatigue, returning to fail options, or perhaps steering clear of deciding altogether," Wilderotter and her co-authors mention, urging ex-CEOs to instead redefine their objective or even identity. (Ballmer is likewise founder of USAFacts, a nonpartisan data provider.) Bill George, the past Medtronic chief executive officer that modify himself as a management guru after retirement, has pointed out that the former Chief executive officers who flourish are the ones that find techniques "to generate or even nourish factors that are going to outlive them." Throughout our job interview at the field, Ballmer reflected this sentiment. "A person informed me as soon as, 'No one ever before definitely owns a basketball staff. You care for it. You shepherd it, and also you take it along,'" he states. "Intuit Dome may be a small amount of what I carry out to shepherd this group throughout. Considering that it's had by the enthusiasts in the end of the day, and also our experts merely deal with it." Are you a single chief executive officer in a second act?Are you a past chief executive officer that possesses located function in your second act? Exactly how performed you go about locating your brand-new identification? Send your knowledge as well as anecdotes to me at stephaniemehta@mansueto.com. I'll discuss the best convincing examples in a future newsletter.Read as well as see extra: second process Relate to one of the most Cutting-edge Firms Honors as well as be actually acknowledged as an association steering the planet onward by means of innovation. Early-rate due date: Friday, August 23.