.Hey there and invited to Modern CEO! I am actually Stephanie Mehta, CEO and also chief content policeman of Mansueto Ventures. Each week this bulletin discovers comprehensive approaches to leadership drawn from discussions with managers as well as business people, and coming from the pages of Inc. as well as Fast Provider. If you acquired this e-newsletter coming from a pal, you can join to acquire it on your own every Monday morning.Being a CEO in today times is actually difficult: Tensions consist of pleasing investors, dealing with climbing prices and also resolving on-going supply-chain concerns, and making great work environments. But for a lot of managers, being actually an ex-CEO shows its personal collection of problems. Some battle to handle the loss of the benefits as well as standing that include the work, while others really feel obliged to adhere to the well-trodden course to personal equity or company boards." Yearly, 1000s of managers retire from lengthy as well as effective business jobs. But handful of are prepared for the quest they will embark on," past Frontier Communications chief executive officer Maggie Wilderotter declared earlier this year in a Harvard Company Customer review essay, penciled along with job coach Rick Johnson and also headhunter Dennis Carey.Life past MicrosoftOne past company chieftain that seems to be to have actually discovered his ground is actually past Microsoft chief executive officer Steve Ballmer. Ballmer bought the Los Angeles Clippers basketball staff for $2 billion in 2014 and simply introduced the team's new home, the Intuit Dome. (Quick Firm calls it "Steve Ballmer's $ 2 billion play area for Los Angeles Clippers fans.") The team as well as sector have offered Ballmer a sense of objective that has, in some ways, eclipsed his knowledge at the tech titan. "I've serviced a great deal of products over the course of my profession at Microsoft, and I've adored them all," Ballmer told me throughout an interview this month at Intuit Dome in front of an audience that consisted of participants of the Youthful Presidents' Company and also building and construction workers who assisted construct the location as well as their loved ones. "Yet ... in the progression of this particular structure, I possibly had a more clear sight of what I intended to carry out, and I possess the most total satisfaction, not even if it prospered, yet [since] it is actually a financial investment in the neighborhood, too." Intuit Dome has significantly been actually an interest project for Ballmer, who looked for to guarantee that all fans possess a superior adventure. Every chair is actually designed with very easy accessibility to giving ins and also washrooms, phone charging capacities, as well as enough lower leg area, no matter ticket price.Ballmer's substantial financial investments are actually settling. The Clippers won 51 video games in the 2023-2024 time, and completed fourth in the NBA Western Association. (The Dallas Mavericks dealt with the crew from the playoffs.) As well as Ballmer repeatedly ranks as being one of the top NBA owners in fan polls.He is an extremely unlikely shining example for post-CEO life. His retired life coming from Microsoft in 2014 after 34 years at the provider and 13 years as chief executive officer was mental as well as filled. Though earnings almost tripled throughout his tenure, the assets basically went stale, as well as the provider overlooked the chance to come to be a player in mobile phones as well as internet solutions. Under pressure coming from the business's board, Ballmer looked for to renew the firm before eventually determining he was actually not the best person to relocate Microsoft forward. A media reporter that told his separation coming from Microsoft described him as "really sad to leave the company." CHIEF EXECUTIVE OFFICER, reinventedPart of what produces Ballmer a second-act effectiveness tale is that he didn't attempt to recreate his business life. Somewhat, he confiscated an option to get the Clippers after previous co-owner Donald Sterling was disallowed from running the group or relating to the NBA. "Having way too many options can result in choice tiredness, going back to default possibilities, or maybe steering clear of making a decision completely," Wilderotter as well as her co-authors state, suggesting ex-CEOs to instead redefine their function or identification. (Ballmer is actually also owner of USAFacts, a detached records provider.) Costs George, the past Medtronic chief executive officer that modify themself as a leadership guru after retirement life, has actually pointed out that the past Chief executive officers that prosper are the ones that discover methods "to produce or even support points that will certainly outlive all of them." Throughout our job interview at the arena, Ballmer echoed this sentiment. "Somebody told me once, 'No one ever really possesses a basketball crew. You care for it. You shepherd it, as well as you carry it along,'" he says. "Intuit Dome could be a little bit of what I perform to shepherd this group throughout. Since it's owned due to the fans in the end of the day, and our company just care for it." Are you an one-time CEO in a 2nd act?Are you a previous chief executive officer who has found purpose in your 2nd process? Just how did you tackle discovering your brand new identification? Send your ideas and stories to me at stephaniemehta@mansueto.com. I'll discuss the absolute most powerful instances in a potential newsletter.Read and also check out even more: second acts Apply to one of the most Innovative Firms Awards as well as be actually acknowledged as an institution steering the world forward via innovation. Early-rate deadline: Friday, August 23.