.Hello as well as welcome to Modern CEO! I'm Stephanie Mehta, CEO as well as primary content police officer of Mansueto Ventures. Weekly this email list explores inclusive approaches to leadership reasoned chats with managers and also business owners, and also from the webpages of Inc. and Quick Provider. If you received this newsletter coming from a friend, you can easily register to obtain it your own self every Monday morning.Being a CEO at presents is challenging: Pressures consist of delighting shareholders, taking care of rising prices and resolving recurring supply-chain concerns, and making excellent offices. However, for lots of execs, being an ex-CEO provides its personal set of challenges. Some problem to handle the reduction of the rewards as well as condition that possess the job, while others really feel obliged to follow the well-trodden road to exclusive equity or corporate boards." Annually, thousands of managers retire from long and also effective corporate occupations. But handful of are gotten ready for the trip they will plunge into," previous Frontier Communications chief executive officer Maggie Wilderotter declared previously this year in a Harvard Business Review essay, penned with profession coach Rick Johnson as well as talent scout Dennis Carey.Life past MicrosoftOne past company big shot who seems to have actually located his ground is actually past Microsoft chief executive officer Steve Ballmer. Ballmer acquired the Los Angeles Clippers baseball staff for $2 billion in 2014 as well as simply introduced the team's brand new home, the Intuit Dome. (Prompt Business calls it "Steve Ballmer's $ 2 billion play ground for Los Angeles Clippers followers.") The team and also field have actually provided Ballmer a feeling of function that possesses, in some ways, overshadowed his knowledge at the specialist titan. "I have actually dealt with a considerable amount of products over the course of my occupation at Microsoft, and I have actually adored all of them all," Ballmer told me throughout a job interview this month at Intuit Dome facing a target market that included participants of the Young Presidents' Organization and also construction laborers that helped construct the location and also their families. "But ... in the development of this particular property, I probably possessed a more clear perspective of what I would like to do, and also I possess the absolute most fulfillment, not even if it thrived, but [due to the fact that] it's an expenditure in the community, too." Intuit Dome has actually very much been actually a passion task for Ballmer, who looked for to guarantee that all enthusiasts have a fee expertise. Every seat is developed along with quick and easy accessibility to giving ins and restrooms, phone asking for capabilities, and also adequate lower leg area, irrespective of ticket price.Ballmer's considerable financial investments are paying. The Clippers gained 51 video games in the 2023-2024 season, and finished fourth in the NBA Western Event. (The Dallas Mavericks eliminated the crew coming from the playoffs.) And also Ballmer routinely rates as being one of the leading NBA proprietors in fan polls.He is an unlikely role model for post-CEO life. His retired life coming from Microsoft in 2014 after 34 years at the firm and also thirteen years as chief executive officer was actually emotional as well as tangled up. Though revenues almost tripled throughout his period, the share practically stood still, as well as the firm overlooked the opportunity to become a player in cell phones and also internet services. Struggling coming from the business's panel, Ballmer found to remodel the firm just before inevitably choosing he was not the best individual to relocate Microsoft forward. A reporter who chronicled his departure coming from Microsoft defined him as "quite sad to leave the company." CEO, reinventedPart of what produces Ballmer a second-act success account is that he failed to try to recreate his company lifestyle. Instead, he took possession of an opportunity to obtain the Clippers after previous co-owner Donald Sterling was actually outlawed coming from managing the group or even associating with the NBA. "Possessing a lot of selections may cause choice tiredness, reverting to fail options, or maybe avoiding deciding entirely," Wilderotter as well as her co-authors state, recommending ex-CEOs to rather redefine their purpose or even identification. (Ballmer is actually also founder of USAFacts, a nonpartisan records business.) Bill George, the former Medtronic chief executive officer who modify himself as a management authority after retirement, has pointed out that the previous Chief executive officers who prosper are actually the ones that find methods "to develop or even nourish traits that are going to outlast all of them." During the course of our interview at the arena, Ballmer reflected this belief. "Someone told me the moment, 'Nobody ever before definitely has a baseball crew. You look after it. You shepherd it, as well as you bring it along,'" he says. "Intuit Dome can be a little of what I carry out to shepherd this team throughout. Considering that it's possessed by the enthusiasts by the end of the day, and also our experts just care for it." Are you a single CEO in a 2nd act?Are you a former chief executive officer who possesses located purpose in your 2nd action? How did you set about locating your brand new identity? Deliver your understandings and narratives to me at stephaniemehta@mansueto.com. I'll discuss the best compelling examples in a future newsletter.Read and also view even more: 2nd actions Relate to the Most Innovative Firms Honors as well as be actually acknowledged as an institution steering the planet onward by means of technology. Early-rate deadline: Friday, August 23.