.Hello there and also appreciated to Modern CEO! I'm Stephanie Mehta, CEO and chief satisfied officer of Mansueto Ventures. Every week this bulletin checks out broad techniques to management drawn from discussions with execs and also business people, as well as coming from the webpages of Inc. and also Quick Business. If you obtained this e-newsletter from a good friend, you may sign up to obtain it your own self every Monday morning.Being a CEO in today times is tough: Stress consist of pleasing investors, handling rising prices and also addressing on-going supply-chain issues, and creating wonderful offices. However, for many execs, being an ex-CEO provides its very own set of difficulties. Some struggle to handle the loss of the advantages and also status that include the job, while others really feel required to follow the well-trodden pathway to private equity or business boards." Annually, 1000s of execs relinquish long and prosperous corporate jobs. But couple of are gotten ready for the journey they will plunge into," past Outpost Communications chief executive officer Maggie Wilderotter announced previously this year in a Harvard Business Assessment essay, penned along with profession coach Rick Johnson and also talent scout Dennis Carey.Life beyond MicrosoftOne former corporate chieftain who seems to have actually discovered his ground is actually former Microsoft CEO Steve Ballmer. Ballmer got the Los Angeles Clippers baseball staff for $2 billion in 2014 as well as merely unveiled the crew's new home, the Intuit Dome. (Rapid Provider calls it "Steve Ballmer's $ 2 billion recreation space for LA Clippers followers.") The team and also sector have actually offered Ballmer a feeling of reason that has, somehow, shrouded his experiences at the specialist giant. "I've worked on a bunch of products over the course of my career at Microsoft, as well as I've loved all of them all," Ballmer told me during the course of a meeting this month at Intuit Dome before a viewers that included participants of the Youthful Presidents' Institution along with building laborers who assisted construct the establishment and also their families. "However ... in the growth of this particular building, I most likely had a more clear perspective of what I wished to do, as well as I possess the best contentment, certainly not even if it prospered, but [given that] it is actually an expenditure in the area, as well." Intuit Dome has actually significantly been an enthusiasm job for Ballmer, that looked for to guarantee that all followers possess a superior knowledge. Every seat is made with easy accessibility to concessions as well as shower rooms, phone charging capabilities, as well as adequate lower leg room, irrespective of ticket price.Ballmer's considerable financial investments are actually paying off. The Clippers gained 51 games in the 2023-2024 period, and also finished 4th in the NBA Western Event. (The Dallas Mavericks got rid of the group coming from the playoffs.) And also Ballmer consistently rates as being one of the leading NBA proprietors in follower polls.He is actually an extremely unlikely shining example for post-CEO lifestyle. His retirement life coming from Microsoft in 2014 after 34 years at the company as well as 13 years as chief executive officer was psychological as well as tangled up. Though incomes nearly tripled in the course of his period, the assets basically went stale, and also the company missed out on the chance to come to be a gamer in mobile devices as well as net services. Under pressure from the business's panel, Ballmer looked for to spruce up the business prior to ultimately deciding he was not the most effective person to relocate Microsoft onward. A reporter that chronicled his retirement from Microsoft explained him as "quite unfortunate to leave behind the company." CEO, reinventedPart of what helps make Ballmer a second-act effectiveness tale is actually that he failed to attempt to recreate his company lifestyle. Somewhat, he took possession of an opportunity to acquire the Clippers after previous co-owner Donald Sterling was disallowed from running the team or connecting with the NBA. "Possessing way too many selections can result in selection exhaustion, changing to skip choices, or perhaps steering clear of choosing altogether," Wilderotter and her co-authors point out, recommending ex-CEOs to instead redefine their reason or even identification. (Ballmer is likewise owner of USAFacts, a nonpartisan data firm.) Expense George, the former Medtronic chief executive officer who modify himself as a management guru after retirement life, has said that the former Chief executive officers who thrive are actually the ones who locate means "to generate or even support factors that will definitely outlive all of them." During the course of our interview at the arena, Ballmer reflected this sentiment. "A person informed me once, 'No person ever before actually possesses a basketball group. You take care of it. You shepherd it, as well as you take it along,'" he states. "Intuit Dome can be a little of what I carry out to shepherd this team along. Because it's had by the enthusiasts by the end of the time, and our experts simply care for it." Are you an one-time CEO in a 2nd act?Are you a past chief executive officer who has discovered purpose in your second act? Just how did you go about discovering your brand new identity? Send your understandings and also stories to me at stephaniemehta@mansueto.com. I'll share one of the most powerful instances in a future newsletter.Read and see much more: second acts Put on one of the most Ingenious Providers Honors as well as be actually recognized as an association driving the world onward by means of advancement. Early-rate target date: Friday, August 23.