.Hello and also appreciated to Modern CEO! I'm Stephanie Mehta, chief executive officer and chief content officer of Mansueto Ventures. Weekly this newsletter looks into comprehensive approaches to leadership drawn from discussions along with execs as well as business people, as well as from the web pages of Inc. as well as Prompt Business. If you acquired this email list from a buddy, you may join to receive it on your own every Monday morning.Being a CEO at presents is actually tough: Pressures consist of satisfying investors, taking care of rising costs and also dealing with ongoing supply-chain problems, as well as making terrific work environments. But for many executives, being actually an ex-CEO provides its very own set of problems. Some battle to manage the loss of the perks and also status that include the task, while others feel obliged to observe the well-trodden path to exclusive equity or business boards." Each year, thousands of managers relinquish long and also successful corporate jobs. Yet couple of are organized the journey they are about to plunge into," previous Frontier Communications CEO Maggie Wilderotter stated earlier this year in a Harvard Service Customer review essay, penned along with profession trainer Rick Johnson and also talent scout Dennis Carey.Life beyond MicrosoftOne former corporate big shot who seems to have discovered his footing is previous Microsoft chief executive officer Steve Ballmer. Ballmer acquired the Los Angeles Clippers baseball group for $2 billion in 2014 and also just revealed the crew's brand-new home, the Intuit Dome. (Rapid Business calls it "Steve Ballmer's $ 2 billion recreation space for Los Angeles Clippers fans.") The group and also arena have offered Ballmer a sense of reason that has, somehow, overshadowed his adventures at the specialist giant. "I have actually worked with a great deal of products throughout my occupation at Microsoft, and also I have actually liked all of them all," Ballmer informed me during the course of a job interview this month at Intuit Dome before a viewers that featured members of the Youthful Presidents' Organization and also construction employees that aided build the center and also their households. "However ... in the progression of this building, I perhaps possessed a more clear view of what I wanted to carry out, as well as I possess the best total satisfaction, certainly not even if it turned out well, but [due to the fact that] it is actually an expenditure in the community, too." Intuit Dome has quite been actually an interest venture for Ballmer, who found to ensure that all fans have a premium experience. Every seat is actually designed along with easy access to giving ins as well as bathrooms, phone asking for functionalities, as well as substantial lower leg area, despite ticket price.Ballmer's substantial assets are paying off. The Clippers won 51 video games in the 2023-2024 period, as well as ended up fourth in the NBA Western Association. (The Dallas Mavericks got rid of the crew from the playoffs.) And Ballmer routinely rates being one of the leading NBA managers in enthusiast polls.He is an unlikely shining example for post-CEO life. His retired life coming from Microsoft in 2014 after 34 years at the business and thirteen years as chief executive officer was emotional and filled. Though revenues nearly tripled during the course of his period, the share generally went stale, as well as the business missed out on the option to become a gamer in smart phones as well as world wide web companies. Struggling coming from the company's panel, Ballmer sought to renew the firm prior to eventually determining he was actually certainly not the very best person to relocate Microsoft ahead. A media reporter who recorded his separation coming from Microsoft defined him as "quite sad to leave behind the firm." CEO, reinventedPart of what makes Ballmer a second-act results story is actually that he really did not choose to reproduce his company life. Somewhat, he seized an opportunity to acquire the Clippers after previous co-owner Donald Sterling was banned coming from managing the group or linking with the NBA. "Possessing excessive options can easily trigger choice fatigue, reverting to fail alternatives, or maybe avoiding making a decision altogether," Wilderotter and her co-authors state, advising ex-CEOs to as an alternative redefine their reason or even identity. (Ballmer is also founder of USAFacts, a detached data business.) Bill George, the former Medtronic chief executive officer that recast themself as a management guru after retirement life, has stated that the previous Chief executive officers who flourish are actually the ones who locate means "to develop or even support factors that will definitely outlive them." Throughout our interview at the field, Ballmer echoed this sentiment. "A person informed me the moment, 'No one ever before really possesses a basketball team. You look after it. You shepherd it, and you bring it along,'" he points out. "Intuit Dome could be a bit of what I carry out to shepherd this team throughout. Due to the fact that it is actually owned due to the fans by the end of the day, as well as our company only handle it." Are you an one-time CEO in a second act?Are you a former chief executive officer who possesses discovered objective in your second act? How did you tackle locating your new identity? Send your knowledge and stories to me at stephaniemehta@mansueto.com. I'll share one of the most convincing examples in a potential newsletter.Read and also watch much more: 2nd process Apply to the best Impressive Firms Awards as well as be actually recognized as an institution steering the world forward by means of innovation. Early-rate due date: Friday, August 23.