5/7/2010: Saying “No” To $1 Million Proves To Be Profitable Decision For Toronto Entrepreneurs

Toronto, ON (MMD Newswire) May 7, 2010 — Turning down $1 million dollars on the Dragons’ Den TV show in March has turned into a whirlwind of media appearances for Toronto based entrepreneurs, Joseph Iuso and Brian Crozier, founders of the ‘alternative’ payment company, UseMyServices, Inc.

Since the airing of the Dragons’ Den episode March 3rd, where the pair were offered and rejected $1 million for 40% of their company, they have been featured as ‘Business Innovators’ in a Rogers/Blackberry commercial, filmed a 90 second ‘interview commercial’ for KPMG and the Business News Network, were recently interviewed for an upcoming article in the Globe and Mail, and next week, will be one of the featured keynote speakers at the Canada 3.0 2010 Entrepreneurial Showcase May 11th, being held at University of Waterloo.

The topic of their presentation?

“Why we turned down $1 million dollars, of course!” quipped Iuso, the company’s Founder and CEO. “To say that all of this media attention was unexpected is an understatement – but we are making the most of every opportunity right now – and there are lots of them!”

The resulting publicity from their decision has resulted in a torrent of new business, an enormous amount of publicity and quite a number of potential investors.

“Even though we turned down the investment, we will always be grateful to the Dragons’ Den for the opportunity,” says Crozier, VP of business Development. “This is the kind of PR you can’t buy, and you certainly can’t ‘plan’!”

Added Iuso “We had no idea what the long term impact of our decision would be – but we know what the company and the technology is worth, and we were not going to give away the store! We know what we have in the works, and saying ‘no’ was definitely the right decision for us.”