.Greetings and also welcome to Modern CEO! I'm Stephanie Mehta, CEO and also primary content officer of Mansueto Ventures. Each week this bulletin discovers comprehensive methods to leadership drawn from chats along with executives and entrepreneurs, and also from the web pages of Inc. and also Fast Firm. If you acquired this e-newsletter coming from a buddy, you can register to obtain it yourself every Monday morning.Being a CEO at presents is actually hard: Pressures include delighting shareholders, dealing with climbing prices and dealing with on-going supply-chain issues, and making great workplaces. However, for a lot of managers, being actually an ex-CEO shows its very own set of difficulties. Some battle to deal with the reduction of the advantages and also status that come with the work, while others really feel required to follow the well-trodden road to personal equity or even corporate panels." Every year, lots of managers relinquish lengthy and effective corporate occupations. Yet couple of are actually prepared for the experience they will embark on," past Outpost Communications CEO Maggie Wilderotter proclaimed previously this year in a Harvard Organization Testimonial essay, penciled with job trainer Rick Smith and headhunter Dennis Carey.Life beyond MicrosoftOne former business big shot that appears to have actually found his footing is past Microsoft CEO Steve Ballmer. Ballmer got the Los Angeles Clippers baseball team for $2 billion in 2014 and also simply unveiled the staff's brand-new home, the Intuit Dome. (Rapid Business calls it "Steve Ballmer's $ 2 billion play area for LA Clippers supporters.") The group and field have offered Ballmer a sense of objective that possesses, in some ways, overshadowed his experiences at the technology giant. "I have actually worked with a great deal of items over the course of my career at Microsoft, and also I've loved them all," Ballmer told me throughout an interview this month at Intuit Dome in front of a viewers that consisted of members of the Youthful Presidents' Institution and also building and construction employees who aided create the center as well as their family members. "But ... in the progression of this property, I probably possessed a clearer perspective of what I wanted to perform, and I possess one of the most satisfaction, certainly not even if it turned out well, however [because] it is actually an expenditure in the community, as well." Intuit Dome has significantly been an enthusiasm project for Ballmer, who looked for to guarantee that all followers have a fee experience. Every chair is actually designed along with simple accessibility to deals and shower rooms, phone billing capacities, and sufficient leg space, despite ticket price.Ballmer's considerable expenditures are repaying. The Clippers gained 51 games in the 2023-2024 period, and also ended up 4th in the NBA Western Association. (The Dallas Mavericks dealt with the group coming from the playoffs.) And Ballmer regularly places as being one of the best NBA owners in supporter polls.He is an extremely unlikely shining example for post-CEO lifestyle. His retirement life coming from Microsoft in 2014 after 34 years at the firm and also thirteen years as CEO was actually mental and also fraught. Though revenues virtually tripled during the course of his tenure, the share essentially stagnated, and also the business missed the possibility to end up being a player in smart phones and world wide web services. Struggling coming from the firm's board, Ballmer sought to revamp the business prior to ultimately making a decision he was certainly not the most effective person to relocate Microsoft ahead. A press reporter that narrated his departure from Microsoft explained him as "incredibly sad to leave the provider." CHIEF EXECUTIVE OFFICER, reinventedPart of what makes Ballmer a second-act success story is actually that he really did not attempt to recreate his business lifestyle. Somewhat, he took an option to obtain the Clippers after previous co-owner Donald Sterling was prohibited from running the staff or even relating to the NBA. "Having a lot of selections may bring about choice tiredness, returning to skip alternatives, or even steering clear of making a decision altogether," Wilderotter and her co-authors say, suggesting ex-CEOs to rather redefine their objective or even identification. (Ballmer is actually also founder of USAFacts, a detached information firm.) Expense George, the past Medtronic chief executive officer that recast himself as a management guru after retired life, has said that the past Chief executive officers that flourish are actually the ones that discover ways "to develop or even nourish traits that are going to outlast all of them." In the course of our job interview at the field, Ballmer echoed this sentiment. "A person informed me as soon as, 'No one ever before really possesses a baseball group. You handle it. You shepherd it, and also you carry it along,'" he claims. "Intuit Dome could be a little of what I perform to shepherd this staff throughout. Due to the fact that it is actually had by the enthusiasts by the end of the time, as well as our experts just look after it." Are you an one-time chief executive officer in a second act?Are you a former chief executive officer who possesses located purpose in your 2nd action? Just how did you set about discovering your brand new identity? Send your insights and anecdotes to me at stephaniemehta@mansueto.com. I'll discuss one of the most convincing instances in a future newsletter.Read and check out more: 2nd process Apply to one of the most Innovative Providers Honors as well as be acknowledged as an organization steering the world forward through technology. Early-rate target date: Friday, August 23.