Approaching investors who share your interests is the first step to getting the dollars you need.
Listen up. Chris Wasden, CEO of hearing diagnostics device company Tympany Inc., is no stranger to raising money. Before co-founding Tympany, Wasden, 44, spent nine years as an investment banker at JP Morgan. He knows that to raise money, you've got to make some noise.
Out on the fund-raising trail in fall 2001, Wasden made a lot of noise: He gave more than 90 investor presentations in his hometown of Houston. But his pitch fell on deaf ears until he focused his efforts on those who knew his industry best-ear doctors and their patients. "The majority of our investors have been touched by hearing loss in one way or another," says Wasden. "We found that most other investors didn't understand our business."
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