.Hey there and also invited to Modern CEO! I'm Stephanie Mehta, CEO and chief material officer of Mansueto Ventures. Every week this e-newsletter checks out inclusive methods to leadership drawn from conversations with execs and also entrepreneurs, as well as from the pages of Inc. and also Rapid Firm. If you acquired this e-newsletter from a close friend, you may register to receive it yourself every Monday morning.Being a chief executive officer in these times is actually challenging: Stress consist of delighting investors, dealing with climbing costs and also resolving recurring supply-chain issues, and also generating terrific workplaces. But for many executives, being actually an ex-CEO presents its own collection of problems. Some struggle to manage the loss of the benefits and also status that possess the task, while others feel obliged to observe the well-trodden pathway to private equity or even business panels." Each year, countless executives relinquish lengthy and also prosperous company careers. Yet couple of are actually prepared for the quest they are about to embark on," past Frontier Communications chief executive officer Maggie Wilderotter proclaimed earlier this year in a Harvard Business Review essay, penned with job train Rick Smith and also headhunter Dennis Carey.Life past MicrosoftOne past business tribal chief that appears to have actually found his ground is past Microsoft CEO Steve Ballmer. Ballmer acquired the Los Angeles Clippers baseball staff for $2 billion in 2014 and also just revealed the staff's brand-new home, the Intuit Dome. (Prompt Firm calls it "Steve Ballmer's $ 2 billion playground for LA Clippers followers.") The staff and also field have actually provided Ballmer a feeling of purpose that possesses, in some ways, darkened his expertises at the specialist titan. "I have actually worked with a great deal of products over the course of my profession at Microsoft, and also I have actually adored them all," Ballmer informed me during the course of a meeting this month at Intuit Dome in front of a viewers that included members of the Young Presidents' Company and also building employees who aided develop the location and their households. "But ... in the advancement of the building, I perhaps possessed a clearer scenery of what I desired to perform, and I possess one of the most satisfaction, not even if it prospered, however [given that] it's a financial investment in the neighborhood, also." Intuit Dome has quite been actually a passion venture for Ballmer, who sought to guarantee that all enthusiasts possess a premium knowledge. Every seat is actually developed along with simple access to giving ins and also shower rooms, phone demanding capacities, and plenty of lower leg space, regardless of ticket price.Ballmer's substantial expenditures are actually repaying. The Clippers gained 51 games in the 2023-2024 season, and ended up fourth in the NBA Western Conference. (The Dallas Mavericks got rid of the group coming from the playoffs.) And also Ballmer consistently positions being one of the best NBA proprietors in enthusiast polls.He is actually a not likely good example for post-CEO lifestyle. His retirement from Microsoft in 2014 after 34 years at the business and also 13 years as CEO was actually emotional and also laden. Though incomes nearly tripled throughout his period, the assets basically stood still, as well as the firm overlooked the option to become a gamer in smart phones and also internet services. Struggling coming from the provider's panel, Ballmer looked for to renew the provider just before essentially determining he was certainly not the greatest person to relocate Microsoft ahead. A media reporter that chronicled his separation from Microsoft illustrated him as "incredibly saddening to leave behind the company." CEO, reinventedPart of what creates Ballmer a second-act effectiveness story is that he failed to choose to reproduce his company life. Somewhat, he took an opportunity to get the Clippers after previous co-owner Donald Sterling was outlawed coming from running the staff or even relating to the NBA. "Having excessive options can easily bring about choice tiredness, returning to skip alternatives, or maybe steering clear of choosing altogether," Wilderotter and her co-authors say, encouraging ex-CEOs to instead redefine their purpose or identification. (Ballmer is also creator of USAFacts, a nonpartisan data provider.) Costs George, the previous Medtronic chief executive officer who modify themself as a leadership authority after retirement, has actually claimed that the previous Chief executive officers who prosper are actually the ones who locate ways "to create or even support points that are going to outlive them." During the course of our interview at the field, Ballmer echoed this conviction. "A person told me once, 'Nobody ever before actually owns a baseball staff. You look after it. You shepherd it, and you deliver it along,'" he points out. "Intuit Dome may be a bit of what I carry out to shepherd this team along. Since it is actually had due to the enthusiasts at the end of the day, and also our experts just care for it." Are you a single chief executive officer in a 2nd act?Are you a past chief executive officer who has discovered objective in your second process? Just how performed you tackle discovering your new identification? Send your knowledge and stories to me at stephaniemehta@mansueto.com. I'll share the best compelling examples in a future newsletter.Read as well as watch even more: 2nd process Put on the absolute most Cutting-edge Business Awards and also be actually realized as an organization driving the world forward with innovation. Early-rate due date: Friday, August 23.