Evan Vitale

Accounting Professional

Evan Vitale – VC Gender Gap Getting Worse

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By Evan Vitale

Here are a couple of news stories that are making headlines in the world of venture capital this week.

Fortune has published an interesting article on how “Venture Capital’s Funding Gender Gap Is Actually Getting Worse.”

The article notes: “It’s a well-documented fact that female founders receive less venture capital funding than their male counterparts. What is perhaps more surprising is that things haven’t improved—and have actually worsened—over the past year.

“Venture capitalists invested $58.2 billion in companies with all-male founders in 2016. Meanwhile, women received just $1.46 billion in VC money last year, according to data from M&A, private equity, and venture capital database PitchBook. That massive disparity is due both to the differences in the number of deals and the average deal size by gender.”

Read the full article here: http://for.tn/2nzP4sW

Meanwhile, The Jerusalem Post has published an article on the enormous expansion of the economic environment in which Israeli technology companies operate.

“2016 is turning out to be one of the most prosperous years ever for the Israeli high-tech industry. This prosperity, reflected by the enormous sums invested in local technology firms, brings about a change to some of the mind-frames to which we were accustomed in local venture capital (VC) transactions. It has also enhanced the effects US VC trends have on the Israeli market.”

Details: http://bit.ly/2n4xGQO

And finally, Georgetown University’s Venture Capital Investment team is set to compete in the VIC Global Finals after earning first place honors at the VCIC 2017 South Regional Finals, held at Rice University in Houston, Texas.

Details: http://bit.ly/2nopoR3

Evan Vitale – Dress Up or Dress Down?

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By Evan Vitale

Modern ideas about dress within the place of work constantly adapt. While “dress down days” have  grown to be commonplace in places of work, surveys seem to reveal that higher levels of dress  and mimicking the business style of the boss is much may get  you ahead and lend to building a far more productive work atmosphere.

But does that which you put on truly influence the ability to succeed at the office?

Dress Down Days

Trend spotters discovered the idea of “dress down” within the place of work in the eighties. At that point, what became fascinating about those dress down days was how different an awareness of “business casual” for males of various ethnicities gravitated towards.  Preppie guys still wore ties and collars but replaced a sports coat and pants (not matching) for his or her usual office attire.  Once the jackets came off for meetings, it was immediately difficult to differentiate between dress down Friday than any other day.

More progressive or European employees, both men and women tended to favor crisp khaki chinos and pin striped oxford shirts made to be worn with no tie, and normally speaking, looked stylish.  Americans really loosened up and looked as if they were going to a fitness center as opposed to the office, wearing tracksuits and Nikes. Did this make a more collaborative or friendly work environment?  Probably not.  But at least everyone seemed “comfy.”

Lately, with the death of the tie for basically all but formal or more traditional male employees or individuals employed in the financial or sales industry, dressing up or dressing down has become more subtle.  Company uniforms have become polo shirts and khakis for both sexes.  

Giving a Best Impression

It’s pretty true that people never obtain a second opportunity to create a first impression since most individuals have formed their opinion of our abilities within the first couple of seconds, right down to our physical features. Even without remembering any particularly distinguishing features (except for extremes of height, weight, disability, etc.) dress and grooming makes up a substantial portion of a first impression.

People have a tendency towards conformity, to feel quite confident with those who are essentially much like themselves. Thus, in our search for a Board member, we’ll most likely expect the individual – man or woman – to show up in a flattering business suit. If we’re searching for a partner for our rock-band, then jeans, t-shirts, tats, body piercings and purple hair most likely will not raise an eyebrow. But when an applicant appears in response to a want ad wearing completely opposite attire to our own, it will probably have negative hiring implications.

What’s appropriate?

Once within a consulting engagement, my client was searching for a brand new CEO.  After performing multiple rounds of screening, I gave the candidate list to their board. As this was round one, one candidate thought that since this organization was “unique”, that they might want to dress down for the final meeting.  However, he took it to the extreme wearing torn jeans and enormous gold jewelry.  He did not obtain the job primarily because he had no clue as to appropriate attire for a business meeting.

Dress for achievement

It’s been stated that you ought to dress not to do the job you are in but for the job that you aspire to have. So if you wish to be marketable, it’s generally easier to be outfitted too nicely rather than too informally.  Sometimes dressing above your pay grade may help people take a second look and assume you are already a manager when you might just be a junior accountant.  It will help groom them to accept you eventually in the role you aspire.

Stepping into “work mode”

Many people clearly think that the things they put on influences how they work. If they’re smartly outfitted, their thinking is more business ready. A friend who was laid off had me recalling how he always put on a suit and tie to walk to his home office to make phone calls in the back bedroom. He firmly believed that formal dress got him more ready for serious work.  In his mind, his sales work would not have been as strong had he stayed in his pajamas even if no one else could see him.

So even if you are working from home, you may want to reconsider at least putting on tailored pants and a clean sweater.  But no one on Skype can see you wearing a pair of slippers rather than high heels, so today you will be just fine for work….as long as a client isn’t dropping by.

Evan Vitale – Should You Ask For A Promotion?

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By Evan Vitale

In the event something unplanned happens in your personal life or within your personal finances, you may want to think twice about hitting up your manager for a promotion.   Your request for promotion should be a thoughtful event and not used for emergency cash management.

In pursuing your campaign for a promotion, and talking about your objectives together with your supervisor, such a conversation can easily work to your benefit when done correctly. Remember a pay upgrade can cause change and add additional responsibilities and work processes to perhaps an already hectic work day.  So be careful what you wish for so as to ensure your work life balance will remain positive.

Normally promotions happen as a result of a recent position opening. So, the very first thing you’ll need to do on regularly if you wish to be promoted would be to keep in good contact with the company’s employment board or the HR office. If a position opening is about to become open or has been open for a while, you’ll wish to make certain that your  interest in a position is known to your manager and any other political players that would  have an additional say in perhaps approving the transition.  Missing your opportunity because of a delay in communicating can sabotage your chances.

Getting a lead for an opening that would mean a promotion for you is the first step.  Once you have re-examined your desire for the position (make sure you really want the job), then contact the person responsible about the specifics and qualifications for the position.

Seniority may be a critical factor as to whether you will be a good fit for a promotion to the position.  Recent company hires should not pursue promotions too quickly unless they are absolutely excelling in their current work or were perhaps overqualified when they started.  Being a new hire doesn’t mean that you shouldn’t ask for a promotion.  It is good to get in the habit of asking (but not too frequently) if your personal goal is to indeed work your way up the company ladder.

Usually organizations prefer to promote internally from within the pool of candidates who have a good work record over a long period.  Your long range career goals you may have mentioned during initial hiring may also be considered as managers generally remember what you said you wanted to do at hire.  You can change your goals, but be genuine with your team what it is you want to do.  Obvious money grabs will be transparent to co-workers who see you day in and day out.

Meeting long term career goals will require that you pay your dues by putting in the time and gaining experience within a variety of projects.  It’s always best to try to get consistent experience within a current company than trying to job hop to a different company to gain experience with the hope of being rehired for a dream job back at the first company.  Too many job hops for gaining experience can sometimes make you appear unreliable.  As long as the company is a healthy one, try to work within a system you are in to demonstrate your agility, commitment and loyalty.  It will make you more valuable as an employee in the marketplace.

When you start looking at the position opening you wish to go for, make sure you evaluate the actual position.  Have you done your research?  Who was in the position before?  Why did they leave?  Can they still be contacted?  And if not, why not?  If at all possible, get as many details as you can.  Has the position had many different people in it making for a chaotic team?

Once you have done your due diligence, and if everything seems positive, then set up an appointment discuss the opportunity with your current boss or other managers.  When you talk about moving into the promotion, make sure you are confident in yourself, your ability to do the new position and that it is all in alignment with your long term career goals.

Evan Vitale – Dealing With a Difficult Co-Worker

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By Evan Vitale

Some of us can relate to this situation: we love our job, but we can’t stand to work with so-and-so on a daily basis.

Yes, at times, it’s hard to get along with everyone or understand why other people are difficult to work with, annoying, negative, etc. Everyone has their own personality, habits and mannerisms and we have to figure out how to deal with that person or start looking for another job.

Since we don’t know what a future job holds (you might have two difficult people to deal with at a new job), it’s probably better to figure out how to deal with a current co-worker and stick with the job that you like.

If the conflict is small, you can probably work one-on-one with your difficult co-worker. If the problem is much larger, you may have no alternative than to talk to a manager or to someone in your company’s human resources department.

A good way to start solving the problem is to talk to the co-worker privately. Suggest a coffee break or lunch together. Be careful how you present your problem as you certainly don’t want to make matters worse! Don’t sound frustrated or mad. Be caring and cautious. Communication is a huge key in solving any conflict.

Once you have had a discussion with your co-worker – and the problem continues – then it’s time to consider speaking to your manager about the issue. Here you will find some managers won’t have the interest, time or energy to deal with small personality conflicts, while others will be helpful and will try to find a solution.

If the matter is more serious (i.e., sexual harassment), then you need to speak with your supervisor immediately about the problem. If your manager is acting inappropriately, then you need to discuss the matter with the manager’s boss or with your human resources department.

Evan Vitale – Asking For A Raise

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By Evan Vitale

At times we all probably feel that we’re under-appreciated – and under-valued when it comes to working a part-time or full-time job. We put in the hours, do what we’re asked to do, arrive early, leave late and go the extra mile for the company.

However, a good performance review doesn’t necessarily mean you’ll be guaranteed the kind of raise in salary that you’re looking for (or hoping for) in 2016. At best, most only expect a cost of living raise. But can you ask for more?

The best way to get that well-deserved raise is to know how to properly ask for it. Here are some basic strategic steps you can take before you ask for a raise:

Do some research around the company as it pertains to pay raises. Refer to the company handbook or ask older employees their experiences when it comes to seeking a pay increase.

Keep track of your work accomplishments and job performance and have it handy when it comes time to asking for a raise. If necessary, create charts or graphs to help prove your case. If you can show that you’ve save the company time and/or helped the company improve sales, increase profits or cut expenses, then it will be easier for them to answer “yes” to your raise request.

Keep in mind what the local market will bear. If the cost of living is 3% and the current market value for someone of your job status is $50,000 per year, don’t expect  – or ask – for a $10,000 pay increase. Be reasonable.

Ask for a meeting with your boss and let them know ahead of time what the meeting entails. Be confident in your request and have your facts ready when it comes time to let your boss know why you’re an asset to the company and deserving of a raise.

Evan Vitale – 5 Distracting Habits Eating Your Productivity

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By Evan Vitale

Productivity is the name of the game and in today’s ultra competitive market, understanding the pitfalls of distracting, time-wasting behavior can help rearrange your day in a more efficient manner. If “you are what you eat,” you are also what you dedicate your time to. Bad habits like checking your email every 15 minutes, aimlessly roaming the office, or perfectionism may become your downfall as important projects slip through the cracks and your focus and attention lay elsewhere. Here are 5 bad habits you should break in order to make the most of your work day.

1. Stop checking your email every 15 minutes.

If you are one of the 32% of Americans who respond to an email within 15 minutes of receiving it, or the 23% who respond within 30 minutes, you are checking your email way too often. Most of the mail you receive is classified as non-urgent with a typical 24-48 hour response window. In high pressure situations when you know someone may be expecting an immediate response, it may make sense to check your email frequently; however, in the future, take some time to focus on one project at a time, devoting a solid 60 – 90 minutes on the task before disrupting your flow and checking in external situations.

2. Along the same lines, stop multi-tasking!

We all believe we’re the best multi-tasker we know, and many companies welcome employees to feel said way. However, in truth, your brain primarily focuses on one task at a time. Constantly switching between browser tabs, readings, emails, write-ups, and the likes will make you less productive. If the tasks relate, gently intertwine them. Otherwise, schedule your time appropriately, scheduling one task after the other.

3. Perfectionism is getting in the way of your best work.

You should always double check your presentations, re-read emails, and generally treat your work with caution. Yet constantly micro-analyzing your own work will create a productivity deficit that may be hard to recover from. Perhaps try a school work approach by composing a rough draft, walking away from the project, and then returning at a later time when you’re less critical, less fatigued, and have a better perspective. Efficiency is key in a fast paced environment and in order for you to yield high quality results, you have to let go of perfectionism – no matter how much of an oxymoron is may seem to be.

4. Disorganization will be the bane of your productivity only if you let it.

Disorganization is killer. Whether it’s your planner, iCal, Google Drive, or work station, staying organized will help keep you on task and focused. Many fail to recognized how a messy desk can in fact cause subconscious stress and undo anxiety. Disorganization may even tempt you to procrastinate actual work, wasting copious amounts of time working through the chaos instead of producing results.

5. Answering every distracting invitation aimed your way in the affirmative will stifle you.

On average, employees are distracted every 11 minutes. Because of this, your momentum is never quite revved up to full capacity. After you’ve been interrupted from your work, you’re more likely to participate in bad habits like checking your email as mentioned above. Additionally, if you have an issue saying “no,” yes-man behavior could land you in a predicament where you now have way more tasks than you can effectively complete, leading to excessive multi-tasking and disorganization.

Evan Vitale – Networking: A Two-Way Street

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Whether a friendship, romantic partner, or family member, maintaining a relationship requires mutual effort. People resent being taken advantage of or used solely for what they have to offer with little to no reciprocity. The same sentiment can be found in the realm of networking. If you approach networking with a selfish mindset, only considering what you can get for free, then you are networking incorrectly. While it may be difficult to know when it’s appropriate to ask for advice or favors, especially when you’re just starting out in your career field, here are 5 warning signs to show if you are neglecting your end of the bargain.

  1. Are you criticizing free advice?
    Criticizing free advice is similar to a starving man throwing a perfectly good meal back in the giver’s face. If the advice you receive is nonapplicable to your situation, instead of criticizing, ask followup questions. Being argumentative makes you seem unappreciative and crass. Remember, there’s no faster way to burn bridges than poor manners and inappropriate behavior.
  2. Are you unprepared to make the most of a network connection’s time?
    Be sure to prepare specific questions or scenarios when utilizing a network connection for advice. This is one way to prevent misdirected conversation. Similarly, when attending a networking event, take some time to think about why you are attending. Is it simply because you want to be in the presence of industry professionals, or would you like to build lasting relationship with people you can truly learn from, grow with, and form an alliance.
  3. Are you “pimping” out your network connection?
    One of the most unprofessional things you can do is pass around your network connection’s information without their permission. Just as you wouldn’t use a reference who hasn’t consented for a job interview, don’t haphazardly hand out a connection’s contact. No one wants to receive unsolicited requests from individuals they do not know.
  4. Are you name dropping?
    Similar to point number three, you can easily seem like a networking leech if you name drop who you know in casual conversation. While it may be nice, or even impressive at times, to have a working relationship with an industry leader, name dropping is superficial and provides very little depth.
  5. Are you “too busy” to help others?
    Be sure to make time to help others. Only receiving when the moment is convenient for you not only stunts your personal growth and development as a mentor and leader, but also disengages you with the industry community at large. People should recognize you as an individual who has taken advice, grown from it, and demonstrated to others that they are now in the position to help. Pay it forward.

Keeping these 5 things in mind will help you form meaningful and lasting network connections.