.Greetings and invited to Modern CEO! I'm Stephanie Mehta, CEO as well as main material policeman of Mansueto Ventures. Every week this email list explores broad approaches to leadership reasoned conversations along with execs as well as entrepreneurs, as well as coming from the web pages of Inc. and Quick Business. If you obtained this newsletter from a buddy, you may subscribe to obtain it yourself every Monday morning.Being a chief executive officer at presents is difficult: Stress consist of fulfilling shareholders, dealing with climbing prices as well as resolving continuous supply-chain problems, as well as developing terrific place of work. But for numerous execs, being an ex-CEO offers its very own collection of challenges. Some struggle to cope with the loss of the benefits as well as status that possess the task, while others really feel obliged to follow the well-trodden road to personal equity or company boards." Annually, thousands of managers relinquish lengthy as well as effective business careers. However handful of are prepared for the trip they are about to plunge into," previous Frontier Communications CEO Maggie Wilderotter declared previously this year in a Harvard Business Review essay, penned with occupation train Rick Johnson and also talent scout Dennis Carey.Life past MicrosoftOne past corporate big shot that seems to have actually located his ground is previous Microsoft CEO Steve Ballmer. Ballmer bought the Los Angeles Clippers baseball crew for $2 billion in 2014 and only introduced the crew's new home, the Intuit Dome. (Fast Company calls it "Steve Ballmer's $ 2 billion playing field for Los Angeles Clippers supporters.") The team and also field have offered Ballmer a sense of purpose that has, in some ways, eclipsed his adventures at the tech giant. "I've focused on a considerable amount of products throughout my occupation at Microsoft, and I've enjoyed them all," Ballmer informed me in the course of a meeting this month at Intuit Dome facing a viewers that consisted of members of the Youthful Presidents' Institution as well as development workers who aided develop the amenities and also their families. "However ... in the growth of this structure, I perhaps had a clearer scenery of what I wanted to carry out, and also I possess the most total satisfaction, not just because it turned out well, however [because] it's a financial investment in the neighborhood, also." Intuit Dome has significantly been actually a passion venture for Ballmer, who found to make sure that all enthusiasts have a superior expertise. Every chair is actually made with quick and easy access to deals and restrooms, phone billing capacities, and also enough lower leg area, despite ticket price.Ballmer's significant financial investments are actually settling. The Clippers succeeded 51 video games in the 2023-2024 period, as well as ended up 4th in the NBA Western Event. (The Dallas Mavericks eliminated the crew coming from the playoffs.) And also Ballmer regularly positions as one of the top NBA owners in enthusiast polls.He is actually an unexpected good example for post-CEO life. His retirement from Microsoft in 2014 after 34 years at the provider and also thirteen years as CEO was actually psychological and stuffed. Though profits almost tripled during his tenure, the assets generally stagnated, and the provider missed the chance to come to be a player in mobile phones and net services. Under the gun from the company's board, Ballmer looked for to remodel the provider prior to ultimately choosing he was not the best individual to move Microsoft ahead. A media reporter who narrated his retirement from Microsoft illustrated him as "very unfortunate to leave the firm." CHIEF EXECUTIVE OFFICER, reinventedPart of what produces Ballmer a second-act results account is that he really did not choose to recreate his corporate life. Somewhat, he seized a chance to acquire the Clippers after previous co-owner Donald Sterling was actually disallowed coming from running the crew or even relating to the NBA. "Having excessive choices may trigger choice exhaustion, going back to default alternatives, and even staying away from deciding entirely," Wilderotter and her co-authors state, advising ex-CEOs to instead redefine their function or identification. (Ballmer is also creator of USAFacts, a nonpartisan information provider.) Expense George, the previous Medtronic chief executive officer that recast himself as a management master after retired life, has claimed that the former Chief executive officers that prosper are actually the ones who find ways "to develop or support things that will certainly outlive them." During our job interview at the field, Ballmer resembled this belief. "Somebody told me when, 'No person ever before really possesses a baseball team. You handle it. You shepherd it, and also you carry it along,'" he mentions. "Intuit Dome can be a little of what I do to shepherd this group throughout. Due to the fact that it is actually owned by the supporters at the end of the time, and also our team merely handle it." Are you a single CEO in a 2nd act?Are you a previous chief executive officer that possesses found function in your 2nd act? How did you deal with discovering your brand-new identification? Send your knowledge and also narratives to me at stephaniemehta@mansueto.com. I'll discuss the best convincing instances in a future newsletter.Read and watch extra: 2nd acts Put on the best Cutting-edge Companies Awards as well as be actually realized as an institution steering the planet ahead via technology. Early-rate deadline: Friday, August 23.