.Hi there as well as appreciated to Modern CEO! I'm Stephanie Mehta, chief executive officer and main content officer of Mansueto Ventures. Each week this bulletin checks out comprehensive strategies to management reasoned chats along with executives and business people, as well as from the web pages of Inc. as well as Prompt Firm. If you got this email list coming from a pal, you may subscribe to receive it your own self every Monday morning.Being a CEO in these times is actually challenging: Stress feature satisfying investors, dealing with climbing prices and also addressing on-going supply-chain issues, and making excellent place of work. However, for several execs, being actually an ex-CEO provides its very own set of challenges. Some struggle to deal with the loss of the rewards and also status that feature the job, while others experience required to comply with the well-trodden course to exclusive equity or even business panels." Annually, hundreds of managers relinquish long and successful business occupations. However few are gotten ready for the adventure they will embark on," former Frontier Communications chief executive officer Maggie Wilderotter declared earlier this year in a Harvard Service Customer review essay, penned along with profession train Rick Smith and headhunter Dennis Carey.Life past MicrosoftOne past company big shot that appears to have found his ground is actually former Microsoft CEO Steve Ballmer. Ballmer acquired the Los Angeles Clippers basketball crew for $2 billion in 2014 as well as simply introduced the group's new home, the Intuit Dome. (Fast Company calls it "Steve Ballmer's $ 2 billion playing field for LA Clippers fans.") The crew as well as field have actually provided Ballmer a sense of objective that has, in some ways, overshadowed his adventures at the specialist titan. "I have actually worked on a great deal of items over the course of my occupation at Microsoft, and also I have actually liked them all," Ballmer informed me during a job interview this month at Intuit Dome before a target market that featured participants of the Young Presidents' Institution along with construction employees that aided create the facility and their families. "Yet ... in the advancement of this particular property, I probably possessed a more clear view of what I intended to carry out, as well as I possess the best satisfaction, not even if it prospered, however [since] it's an expenditure in the neighborhood, as well." Intuit Dome has actually significantly been a passion venture for Ballmer, that sought to make sure that all enthusiasts possess a costs knowledge. Every chair is actually made along with quick and easy accessibility to concessions and also restrooms, phone billing capacities, and enough leg area, regardless of ticket price.Ballmer's sizable assets are actually paying off. The Clippers won 51 video games in the 2023-2024 season, as well as ended up 4th in the NBA Western Association. (The Dallas Mavericks eliminated the crew coming from the playoffs.) As well as Ballmer repeatedly places as one of the top NBA managers in follower polls.He is actually an unlikely good example for post-CEO life. His retirement coming from Microsoft in 2014 after 34 years at the company and thirteen years as CEO was actually mental and also laden. Though profits virtually tripled during his tenure, the assets essentially stood still, as well as the provider skipped the option to come to be a player in smart phones as well as net services. Struggling coming from the firm's panel, Ballmer sought to revamp the business prior to inevitably determining he was certainly not the very best individual to move Microsoft ahead. A reporter who recorded his departure from Microsoft illustrated him as "extremely sad to leave behind the company." CHIEF EXECUTIVE OFFICER, reinventedPart of what creates Ballmer a second-act success story is that he didn't attempt to reproduce his business lifestyle. Rather, he seized a possibility to obtain the Clippers after previous co-owner Donald Sterling was prohibited from running the group or associating with the NBA. "Possessing a lot of selections can easily result in selection tiredness, going back to skip choices, or even staying away from choosing altogether," Wilderotter as well as her co-authors state, advising ex-CEOs to instead redefine their reason or even identity. (Ballmer is also founder of USAFacts, a detached data firm.) Expense George, the past Medtronic chief executive officer that modify himself as a management master after retirement life, has stated that the previous CEOs that thrive are actually the ones that discover ways "to make or support traits that will definitely outlast them." During our job interview at the arena, Ballmer reflected this belief. "Someone told me the moment, 'No person ever actually owns a basketball group. You handle it. You shepherd it, and you deliver it along,'" he points out. "Intuit Dome could be a bit of what I perform to shepherd this staff throughout. Given that it's had by the fans by the end of the time, as well as our experts just take care of it." Are you a single CEO in a second act?Are you a previous CEO who has located reason in your second process? Exactly how performed you deal with discovering your brand-new identification? Deliver your knowledge and also anecdotes to me at stephaniemehta@mansueto.com. I'll share the absolute most compelling instances in a potential newsletter.Read and see more: 2nd actions Relate to the absolute most Innovative Companies Awards and also be actually acknowledged as an institution steering the world ahead through technology. Early-rate due date: Friday, August 23.