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Meditation Led Eric to Creating a Million-Dollar Startup: Here's How He Did It

Episode 134 • 23rd September 2024 • People Explained • String Cast Media

Eric MCHugh is president of SHOPX a web3 e-commerce platform and Co-Founder & Chief Growth Officer of Dataing.io a Dating and ai powered matchmaking app.

In this episode we discuss spirituality and meditation, the importance of purpose in business, and his business ShopX and its benefits.

We also talk about the role of Web3 and crypto in business as well as what could lead to crypto mass adoption, Eric talks about the pros and cons venture funding vs bootstrapping, what it is like two businesses simultaneously, the power of networking and authenticity when doing business

Key Takeaways

Exploring spirituality and meditation can lead to personal transformation and a deeper understanding of oneself.

Balancing multiple businesses requires effective time management and a lean team.

Having a clear purpose in business can drive success and create positive impact.

ShopX offers NFT-powered loyalty programs for e-commerce brands, providing benefits for both brands and customers.

Reserve X allows brands to launch NFT collections with e-commerce utility, enhancing customer loyalty and retention.

SquadX is a blockchain-based ambassador program that rewards community members for helping the ecosystem grow.

Bootstrapping can be a viable option for funding a startup, while being cautious about the alignment with investors' goals.

Networking and authenticity can attract the right people and create powerful relationships.

Web3 and crypto have the potential to fix corrupt money systems and create fairer incentives.

Framing crypto for mass adoption requires user-friendly interfaces and focusing on the benefits for the average person. The future of crypto wallets may involve custodial wallet systems to make it easier for less tech-savvy individuals to participate in the crypto space.

Big brands entering the Web3 space will drive the adoption and usability of cryptocurrencies and blockchain technology.

Eric's hobbies include chess, Muay Thai, reading, meditation, and physical fitness.

He replaces mindless scrolling on social media with more productive activities like playing chess.

Eric recommends books like 'Antifragile' by Nicholas Taleb, 'A New Earth' by Eckhart Tolle, and 'Reality Transurfing' for personal and spiritual growth.

Freedom is what brings Eric the most joy in his work, as it allows him to make a positive impact on the world.

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