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Hecla Mining’s Abandoned Mines: What Next? Expert Insights

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Building Your First Venture: A Founder’s Real Talk on Starting from Zero

You’re sitting at your kitchen table at 11 PM, half-empty coffee mug beside your laptop, wondering if you’re about to make the biggest mistake of your life. That feeling? That’s the exact moment most founders decide to either close the laptop or dive in headfirst. I’ve been there, and I’m betting you have too—or you’re about to be.

Starting a venture isn’t some Hollywood montage set to upbeat music. It’s messy, it’s uncertain, and it’ll test every ounce of conviction you’ve got. But here’s what they don’t tell you: it’s also the most alive you’ll ever feel professionally. This guide isn’t about unicorn valuations or exit strategies written before you’ve even validated your idea. It’s about the unglamorous, essential work of building something real.

Let me walk you through what I’ve learned—and what I wish I’d known sooner.

Validate Your Idea Before You Quit Your Job

This is where most founders stumble. You’ve got this brilliant idea, you can see it so clearly in your head, and everyone you’ve told thinks it’s genius. So you quit your job, burn through savings, and six months later you’re realizing nobody actually wants what you’re building.

I learned this the hard way. My first venture idea seemed bulletproof until I actually talked to potential customers. Turns out, the problem I was solving wasn’t nearly as painful as I thought. It was a humbling wake-up call, but it happened before I’d torched my runway.

Here’s what validation actually looks like: get out and talk to at least 20-30 people who fit your target customer profile. Not your mom. Not your best friend who’s always supportive. Real people who experience the problem you’re solving. Ask them about their current workarounds, how much they’d pay to fix it, and whether they’d actually use your solution.

Build something small and testable—a landing page, a prototype, a spreadsheet-based MVP. Put it in front of people. Watch whether they engage or ghost. The market will tell you the truth if you’re willing to listen. This is also where understanding your founder mindset becomes critical—you need the mental resilience to hear “no” and keep iterating.

One more thing: keep your day job during this phase if you can. I know it’s exhausting working nights and weekends, but the financial runway matters. You want to be validating your idea with a clear head, not in panic mode because you’ve got three months of savings left.

The Founder Mindset: What Actually Matters

There’s a lot of talk about “founder personality types.” The visionary. The scrappy hustler. The technical genius. Honestly? The type matters way less than the resilience.

What separates founders who build something from founders who burn out is this: can you stay committed to a vision while remaining flexible about the path? Can you take rejection, learn from it, and adjust without losing faith in what you’re building? Can you make decisions with incomplete information and live with the consequences?

I’ve worked with founders who had every advantage—deep pockets, impressive networks, relevant experience—who quit because they couldn’t handle the emotional rollercoaster. I’ve also seen founders with almost nothing build remarkable things because they had this quiet conviction that refused to break.

The founder mindset is partly innate, but it’s also something you can build. Here’s what matters: embrace the uncertainty. Stop trying to predict the future and get comfortable with iteration. Separate your ego from your work. Your first idea will probably change. Your business model will pivot. That’s not failure—that’s learning. Build genuine relationships, not a network. The people who help you most won’t be the ones impressed by your pitch; they’ll be the ones who believe in you.

This connects directly to how you find your first customers—you need the mindset that treats every conversation as a learning opportunity, not a sales transaction.

Finding Your First Customers (Without Losing Your Mind)

Your first customers won’t come from a marketing campaign. They’ll come from you being weirdly obsessed with solving their problem and actually talking to them about it.

I remember sitting in coffee shops, at industry meetups, anywhere I could find people who fit my customer profile. I’d start conversations. I’d ask questions. I’d listen way more than I talked. Some conversations led nowhere. Some led to feedback that made me rethink everything. A few led to actual customers.

The key is removing friction from the conversation. You’re not selling yet—you’re learning. Show them what you’re building. Ask if it solves their problem. Listen to their hesitation. Iterate. This cycle of conversation → feedback → improvement is how you build something people actually want.

Here’s a tactical approach that works: Start with your immediate network. Not for money, but for access to their networks. A warm introduction is worth infinitely more than cold outreach at this stage. Go where your customers are. Online communities, industry events, LinkedIn groups, Slack communities—wherever they congregate, show up genuinely. Offer value first. Share insights, make introductions, help people without expecting anything in return. This builds real relationships.

When you do find customers willing to try your product, treat them like gold. Over-deliver. Get their feedback obsessively. They’re not just customers—they’re your product development team. The best founders I know maintain relationships with their first 20 customers for years because those early believers become your strongest advocates.

One critical piece: don’t confuse interest with commitment. Someone saying “yeah, that sounds interesting” is very different from someone willing to pay or commit their time. Get to the commitment part before you celebrate.

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The Funding Reality Check

Here’s what nobody wants to hear: you probably don’t need as much funding as you think you do. And you definitely shouldn’t raise money just because it’s available.

The venture capital world has warped founder expectations. You see these headlines about $10M seed rounds and assume that’s normal. It’s not. Most successful businesses are bootstrapped or funded modestly. And the ones that raise massive seed rounds often implode because they’re focused on growth metrics instead of unit economics.

Before you even think about raising money, understand your unit economics. What does it cost to acquire a customer? What’s their lifetime value? Can you profitably scale this, or are you building a business that only works with massive subsidization? This is unglamorous accounting work, but it’s the difference between a real business and a cash-burning experiment.

If you do raise funding, have a clear reason why. Not “because we can,” but “because we need this capital to reach a specific milestone that proves our model.” Friends and family rounds are one thing. Institutional funding is another. Institutional investors have expectations and timelines that can push you toward growth-at-all-costs thinking, which is often the opposite of what your business needs early on.

I’ve seen founders raise money and immediately lose focus. They hire too fast, spend on things that don’t matter, and suddenly they’re managing a team instead of building a product. Sometimes the best decision is to stay lean, prove your model with real customers, and raise from a position of strength.

For a deeper dive on this, check out Y Combinator’s startup library, which has incredible resources on fundraising strategy and when it actually makes sense.

Building Team Culture from Day One

You can’t scale a venture without a team. And you can’t build a strong team without intentional culture.

The founders who nail this early are the ones who hire slowly and deliberately. Your first few hires are foundational. They’ll set the tone for everyone who comes after. I’ve seen one bad early hire poison a culture that took years to recover from. I’ve also seen the right early hire multiply the founder’s impact tenfold.

Here’s what I look for: people who are genuinely bought into the mission, not just the job. People who are comfortable with ambiguity and can make decisions without constant direction. People who care about the work itself, not just the salary. And critically, people who can give you honest feedback—who won’t just agree with everything you say.

Culture isn’t about ping pong tables and free snacks. It’s about how you make decisions, how you treat people, how you handle failure, and what you celebrate. It’s built through consistency, transparency, and actually living the values you talk about.

When you’re small, culture is mostly just how you interact with each other. Meetings where people can say hard things. Decisions that are explained, not just announced. Failures that are treated as learning opportunities, not career enders. This foundation matters way more than the fancy stuff.

This ties directly into understanding what metrics actually matter—your team needs to understand what you’re optimizing for, and culture is how you make sure everyone’s pulling in the same direction.

Metrics That Actually Matter

You can measure anything. But most founders measure the wrong things.

I spent way too much time early on tracking vanity metrics—website traffic, email list size, social media followers. None of that mattered. What mattered was whether customers were actually using the product and finding value in it.

Here’s the framework that works: Leading indicators (what you control) and lagging indicators (what you’re trying to achieve). For most early-stage ventures, the leading indicators are things like number of customer conversations, prototypes tested, feedback incorporated, and experiments run. The lagging indicators are customer acquisition, retention, revenue, and growth.

Your job early on is maximizing learning per unit of time and capital. That means running lots of small experiments, getting feedback quickly, and iterating based on what you learn. The metrics that matter are the ones that tell you whether your experiments are working.

As you scale, you’ll add more sophisticated metrics—CAC, LTV, churn, unit economics. But don’t start there. Start with the basics: Are customers using this? Are they telling others about it? Would they be upset if it went away? These qualitative signals matter more than any dashboard.

One practice that’s helped me: weekly metrics review with the team. Not to celebrate or punish, but to understand what’s working, what’s not, and what we should try next. This keeps everyone aligned and focused on what actually moves the needle.

For a deeper dive on startup metrics, Harvard Business Review’s entrepreneurship section has excellent frameworks for thinking about what to measure and when.

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FAQ

How much money do I need to start a venture?

It depends on your business model, but most founders underestimate their runway needs. A good rule of thumb: calculate your monthly burn rate (how much you spend), multiply by 18 months, and that’s a reasonable target if you’re bootstrapping. If you’re raising, think about what milestone you need to hit to raise your next round. Generally, you need enough runway to reach that milestone with some buffer. For more on this, the SBA’s business launch guide has practical frameworks for budgeting.

Should I quit my job to start my venture?

Not necessarily. Validate your idea first while keeping your job. Once you have paying customers and clear product-market fit signals, then consider going full-time. The financial safety net lets you make better decisions. That said, some ideas require full-time focus from day one—only you can judge that.

How do I know if my idea is actually good?

Real customers will tell you. Not your friends, not your family—actual people who would pay for a solution to their problem. If you can’t find 20-30 people willing to give you feedback and test your product, that’s usually a sign the idea needs work. Don’t confuse interest with commitment.

What’s the biggest mistake early-stage founders make?

Building in isolation. They fall in love with their idea and don’t talk to enough customers. They optimize prematurely. They hire too fast. They raise money before they’re ready. The common thread? Not getting feedback from the market early and often enough. The market is always right. Your job is to listen.

How do I stay motivated when things get tough?

Remember why you started. Celebrate small wins. Build genuine relationships with other founders who understand the journey. And be honest with yourself about whether you still believe in what you’re building. If you don’t, that’s okay—it’s better to figure that out early than to push forward on something you don’t care about.

Building a venture is the hardest and most rewarding thing you can do professionally. There’s no formula that works for everyone. Your job isn’t to follow someone else’s playbook—it’s to stay close to your customers, iterate relentlessly, and maintain the conviction to keep going when things get uncertain. That’s it. Everything else is details.

The founder who wins isn’t the one with the best idea or the most funding. It’s the one who learns fastest, adapts quickest, and refuses to quit when it gets hard. You’ve got this.