.Hello there and welcome to Modern CEO! I'm Stephanie Mehta, CEO as well as main content officer of Mansueto Ventures. Weekly this email list explores inclusive strategies to leadership drawn from discussions with executives as well as business owners, and also coming from the pages of Inc. and also Swift Business. If you received this bulletin from a pal, you may join to acquire it yourself every Monday morning.Being a chief executive officer these days is hard: Stress consist of delighting investors, handling rising expenses as well as fixing recurring supply-chain concerns, and producing wonderful offices. But also for many execs, being actually an ex-CEO shows its very own set of obstacles. Some struggle to deal with the loss of the benefits and condition that include the project, while others experience required to adhere to the well-trodden course to exclusive equity or business panels." Each year, lots of managers relinquish long and also prosperous company occupations. Yet couple of are actually prepared for the journey they will start," former Outpost Communications chief executive officer Maggie Wilderotter declared earlier this year in a Harvard Company Review essay, penciled along with profession instructor Rick Smith as well as headhunter Dennis Carey.Life beyond MicrosoftOne former business chieftain who seems to be to have found his footing is former Microsoft chief executive officer Steve Ballmer. Ballmer purchased the Los Angeles Clippers basketball group for $2 billion in 2014 and merely revealed the staff's brand new home, the Intuit Dome. (Fast Provider calls it "Steve Ballmer's $ 2 billion play ground for LA Clippers supporters.") The group as well as sector have actually given Ballmer a feeling of function that has, in some ways, eclipsed his expertises at the tech titan. "I've worked on a considerable amount of items over the course of my profession at Microsoft, as well as I have actually adored all of them all," Ballmer told me throughout a meeting this month at Intuit Dome facing a target market that included participants of the Young Presidents' Company and also building laborers that helped develop the amenities and also their family members. "But ... in the progression of the property, I perhaps possessed a more clear sight of what I would like to do, as well as I possess one of the most complete satisfaction, not even if it prospered, but [since] it is actually an expenditure in the area, too." Intuit Dome has significantly been actually a passion job for Ballmer, that looked for to ensure that all fans have a fee expertise. Every chair is actually designed with effortless accessibility to deals and restrooms, phone demanding abilities, and enough leg area, no matter ticket price.Ballmer's considerable investments are actually settling. The Clippers won 51 video games in the 2023-2024 season, and also completed fourth in the NBA Western Association. (The Dallas Mavericks eliminated the crew coming from the playoffs.) And Ballmer routinely rates as being one of the leading NBA managers in enthusiast polls.He is actually a not likely role model for post-CEO lifestyle. His retirement from Microsoft in 2014 after 34 years at the firm and 13 years as CEO was actually mental and also tangled up. Though earnings almost tripled during the course of his period, the equity essentially stood still, as well as the business overlooked the chance to become a player in mobile devices and also web solutions. Under the gun coming from the business's board, Ballmer looked for to revamp the company prior to ultimately deciding he was actually certainly not the most ideal person to relocate Microsoft onward. A media reporter who narrated his separation coming from Microsoft explained him as "extremely depressing to leave behind the firm." CEO, reinventedPart of what creates Ballmer a second-act results tale is that he failed to choose to recreate his company lifestyle. Rather, he took a possibility to acquire the Clippers after previous co-owner Donald Sterling was actually disallowed from managing the team or connecting with the NBA. "Having too many choices can easily result in choice exhaustion, returning to fail options, and even steering clear of choosing completely," Wilderotter as well as her co-authors claim, recommending ex-CEOs to rather redefine their function or even identity. (Ballmer is additionally founder of USAFacts, a nonpartisan information provider.) Expense George, the previous Medtronic chief executive officer who recast himself as a management expert after retirement life, has actually mentioned that the past CEOs that flourish are actually the ones that locate ways "to make or support things that are going to outlive all of them." During our interview at the field, Ballmer echoed this view. "Somebody informed me when, 'Nobody ever before definitely has a baseball group. You deal with it. You shepherd it, and you deliver it along,'" he claims. "Intuit Dome can be a little of what I carry out to shepherd this crew along. Due to the fact that it is actually had due to the followers at the end of the time, and also our experts just deal with it." Are you a single chief executive officer in a 2nd act?Are you a former chief executive officer who possesses located purpose in your second action? Just how performed you set about finding your brand new identification? Send your understandings and narratives to me at stephaniemehta@mansueto.com. I'll share one of the most powerful examples in a potential newsletter.Read and watch extra: second process Relate to the Most Impressive Companies Awards and be acknowledged as an association steering the planet ahead by means of technology. Early-rate due date: Friday, August 23.