.Hi as well as appreciated to Modern CEO! I'm Stephanie Mehta, CEO and main material officer of Mansueto Ventures. Every week this newsletter checks out comprehensive strategies to leadership drawn from discussions along with managers and business owners, as well as coming from the pages of Inc. as well as Rapid Company. If you got this bulletin coming from a pal, you can easily register to acquire it your own self every Monday morning.Being a chief executive officer at presents is actually difficult: Pressures feature delighting shareholders, managing rising costs as well as fixing continuous supply-chain issues, and generating great offices. However, for several managers, being an ex-CEO shows its very own collection of challenges. Some battle to cope with the reduction of the benefits and also condition that possess the job, while others experience required to comply with the well-trodden course to private equity or company boards." Yearly, 1000s of managers relinquish lengthy as well as productive corporate careers. However handful of are actually gotten ready for the journey they are about to start," former Frontier Communications CEO Maggie Wilderotter announced earlier this year in a Harvard Company Review essay, penned with career train Rick Smith as well as headhunter Dennis Carey.Life beyond MicrosoftOne former business chieftain who seems to be to have actually located his footing is actually previous Microsoft CEO Steve Ballmer. Ballmer bought the Los Angeles Clippers basketball staff for $2 billion in 2014 and also simply revealed the crew's brand-new home, the Intuit Dome. (Fast Business calls it "Steve Ballmer's $ 2 billion recreation space for Los Angeles Clippers supporters.") The team and arena have actually provided Ballmer a sense of purpose that possesses, in some ways, shrouded his expertises at the tech titan. "I have actually serviced a bunch of items throughout my job at Microsoft, as well as I have actually adored all of them all," Ballmer informed me throughout an interview this month at Intuit Dome in front of an audience that consisted of members of the Youthful Presidents' Institution along with building laborers who helped construct the establishment and their loved ones. "But ... in the advancement of the property, I most likely had a more clear view of what I desired to carry out, and I possess the most fulfillment, certainly not just because it turned out well, however [considering that] it is actually an expenditure in the area, too." Intuit Dome has very much been an enthusiasm job for Ballmer, who sought to make certain that all fans have a premium expertise. Every seat is actually created along with quick and easy access to giving ins as well as washrooms, phone charging functionalities, and adequate lower leg space, no matter ticket price.Ballmer's considerable financial investments are paying. The Clippers won 51 games in the 2023-2024 period, and ended up 4th in the NBA Western Conference. (The Dallas Mavericks dealt with the group coming from the playoffs.) And also Ballmer routinely rates as being one of the leading NBA owners in follower polls.He is an unexpected good example for post-CEO lifestyle. His retirement coming from Microsoft in 2014 after 34 years at the firm and thirteen years as chief executive officer was emotional and stuffed. Though revenues nearly tripled during the course of his period, the assets generally stagnated, and also the provider skipped the possibility to come to be a player in mobile devices as well as internet solutions. Struggling from the company's board, Ballmer looked for to overhaul the firm just before essentially making a decision he was actually certainly not the most ideal person to move Microsoft onward. A media reporter that told his retirement coming from Microsoft explained him as "extremely saddening to leave the business." CHIEF EXECUTIVE OFFICER, reinventedPart of what makes Ballmer a second-act results tale is that he didn't try to reproduce his corporate lifestyle. Somewhat, he took possession of a possibility to obtain the Clippers after previous co-owner Donald Sterling was actually disallowed coming from managing the crew or even linking with the NBA. "Having excessive selections can trigger choice tiredness, going back to default alternatives, or maybe staying away from choosing entirely," Wilderotter and her co-authors claim, urging ex-CEOs to instead redefine their function or identity. (Ballmer is actually likewise owner of USAFacts, a nonpartisan records company.) Expense George, the previous Medtronic CEO who modify himself as a leadership guru after retirement, has actually stated that the former Chief executive officers that flourish are actually the ones that discover ways "to make or even nurture traits that will certainly outlive them." Throughout our interview at the arena, Ballmer echoed this feeling. "Someone informed me once, 'No person ever actually owns a basketball crew. You take care of it. You shepherd it, and you take it along,'" he states. "Intuit Dome could be a little of what I perform to shepherd this group throughout. Considering that it's possessed by the enthusiasts at the end of the time, as well as our experts just handle it." Are you a single chief executive officer in a 2nd act?Are you a past chief executive officer that has found objective in your 2nd process? Exactly how did you handle finding your brand-new identity? Send your ideas and also stories to me at stephaniemehta@mansueto.com. I'll discuss the most compelling instances in a potential newsletter.Read and also view even more: 2nd process Put on the best Impressive Providers Awards and also be actually recognized as an association driving the planet ahead through development. Early-rate due date: Friday, August 23.