.Hello and appreciated to Modern CEO! I am actually Stephanie Mehta, CEO as well as chief content police officer of Mansueto Ventures. Weekly this bulletin discovers broad techniques to management drawn from talks along with managers as well as entrepreneurs, and from the webpages of Inc. as well as Prompt Firm. If you obtained this email list from a friend, you can easily join to acquire it yourself every Monday morning.Being a chief executive officer in these times is actually challenging: Pressures consist of delighting shareholders, handling climbing expenses and also addressing recurring supply-chain concerns, as well as generating terrific work environments. However, for several executives, being actually an ex-CEO presents its own set of challenges. Some battle to deal with the loss of the perks and also status that come with the project, while others feel obliged to adhere to the well-trodden path to personal equity or even business panels." Annually, 1000s of managers relinquish lengthy as well as effective company occupations. But handful of are planned for the experience they are about to start," previous Frontier Communications CEO Maggie Wilderotter proclaimed previously this year in a Harvard Company Evaluation essay, penned with occupation instructor Rick Smith and headhunter Dennis Carey.Life past MicrosoftOne previous company tribal chief that seems to have actually found his footing is actually past Microsoft CEO Steve Ballmer. Ballmer bought the Los Angeles Clippers baseball team for $2 billion in 2014 as well as only introduced the staff's brand new home, the Intuit Dome. (Quick Company calls it "Steve Ballmer's $ 2 billion play ground for Los Angeles Clippers fans.") The crew and arena have offered Ballmer a feeling of objective that has, in some ways, eclipsed his experiences at the tech giant. "I have actually worked with a bunch of products throughout my career at Microsoft, as well as I have actually adored all of them all," Ballmer told me in the course of a meeting this month at Intuit Dome in front of a target market that featured participants of the Young Presidents' Association and also building and construction employees that assisted construct the location and also their loved ones. "However ... in the growth of this property, I perhaps had a more clear scenery of what I wanted to carry out, and also I possess the most total satisfaction, certainly not just because it thrived, however [because] it's an investment in the community, as well." Intuit Dome has actually very much been an enthusiasm project for Ballmer, that found to guarantee that all supporters have a costs experience. Every seat is made with easy access to giving ins as well as restrooms, phone charging abilities, as well as adequate lower leg room, regardless of ticket price.Ballmer's substantial assets are actually repaying. The Clippers won 51 games in the 2023-2024 season, as well as completed fourth in the NBA Western Conference. (The Dallas Mavericks did away with the team from the playoffs.) And also Ballmer consistently rates being one of the top NBA managers in supporter polls.He is an improbable good example for post-CEO life. His retirement coming from Microsoft in 2014 after 34 years at the business and 13 years as chief executive officer was emotional as well as laden. Though incomes nearly tripled throughout his period, the assets generally stagnated, as well as the business overlooked the chance to end up being a gamer in cell phones and also net solutions. Struggling coming from the company's board, Ballmer looked for to remodel the provider prior to ultimately choosing he was actually certainly not the best person to move Microsoft ahead. A press reporter that told his parting coming from Microsoft described him as "quite sad to leave the company." CEO, reinventedPart of what produces Ballmer a second-act effectiveness tale is that he really did not attempt to reproduce his corporate life. Somewhat, he took possession of an opportunity to acquire the Clippers after previous co-owner Donald Sterling was disallowed from running the team or linking with the NBA. "Having excessive selections can trigger choice tiredness, returning to skip possibilities, or perhaps staying clear of making a decision entirely," Wilderotter and also her co-authors claim, encouraging ex-CEOs to instead redefine their purpose or identification. (Ballmer is additionally founder of USAFacts, a nonpartisan information firm.) Bill George, the previous Medtronic chief executive officer who modify himself as a management master after retired life, has actually pointed out that the past Chief executive officers that grow are the ones that locate ways "to develop or nurture things that will definitely outlive all of them." In the course of our job interview at the stadium, Ballmer resembled this sentiment. "Someone told me when, 'Nobody ever before actually owns a baseball team. You take care of it. You shepherd it, as well as you bring it along,'" he claims. "Intuit Dome can be a small amount of what I do to shepherd this group throughout. Since it is actually owned due to the supporters at the end of the time, and our experts just handle it." Are you an one-time chief executive officer in a second act?Are you a past CEO who possesses located purpose in your 2nd action? How performed you handle finding your new identification? Send your insights and also anecdotes to me at stephaniemehta@mansueto.com. I'll share the best engaging examples in a potential newsletter.Read as well as watch more: second acts Relate to the best Cutting-edge Providers Honors and also be realized as an institution steering the world onward via advancement. Early-rate deadline: Friday, August 23.