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Re:What is a 'Successful' Start-Up? by epi0Bauqu on Thursday September 06, 2007 @10:45PM (#51426)
I've been thinking about this lately myself. I have come to believe there are different levels of success in a startup, which could also be viewed as milestones in a way. Particular startups will only get to a certain level, but attaining any level is a success to some degree. Perhaps, they aren't really levels, because that insinuates a linear process. You can tell from this rambling that I haven't really nailed this thought down yet...I hope someone can build upon it. But off the top of my head:

Level 1: Actually make something that is functional.

Level 2: Actually have someone test it.

Level 3: Actually have someone buy it/use it for real.

Level 4: Actually have the users from the previous Level maintain their use, i.e. convert to real users.

Level 5: Get to some level of profitability.

Level 6: Make a decent amount of money.

Level 7: Make a lot of money, i.e. from an exit event or just large value of company, etc.

I know this includes financial stuff, which you specifically didn't want. However, I think this is inextricably tied to the higher levels of startup success. Obviously in the lower levels, some people may have other metrics beyond other use, like organizational metrics such as hiring employees or making something that grows beyond themselves, i.e. can be passed on.

Re:What is a 'Successful' Start-Up? by gqgy on Thursday September 06, 2007 @11:03PM (#51438)
That's a great point of view. Although I excluded money in my question, I am aware that that can only be done in a hypothetical world. I also agree that there are different levels of success. I suppose it is very reasonable to view success as a process rather than an end. The various levels of success which you outline makes sense, however I was wondering whether there was a level beyound money (i.e. Level 7 in your outline) for other entrepreneurs.

I have not yet reached a "Level 7" in my endeavors as an entrepreneur, but I have a feeling that it goes beyond "Level 7".

I guess my suspicion comes from observing those that have already reached "success" in the start-up world. For example, why would PG still work after reaching the elusive "Level 7"/MONEY, why would Steve Jobs keep working, etc....

Re:What is a 'Successful' Start-Up? by epi0Bauqu on Thursday September 06, 2007 @11:25PM (#51465)
First I just want to point out that there are many different levels of being rich. I know PG said this in one of his essays somewhere, and I have said it on this forum too. And it is true. I know this isn't what you were asking in reply, but there are certainly different levels above Level 7 (in my original scheme) that are just higher levels of monetary attainment. And that is what motivates some people to go from say Level 7 to Level 7a, i.e. they see 1M vs 10M vs 50M or whatever as different levels.

But if I understand your reply correctly, I think you are saying, what is beyond all those monetary levels? That is, assume you reach a monetary level that is enough for you financially, what is beyond that? (This is why I just stopped at Level 7 in my scheme btw.)

Having achieved some degree of Level 7 myself, all I can say is that startups are what I like to do (at least for now). I want to start all over again and climb up the Levels because each level is rewarding to me its own right. A different project brings different users and solving different needs, and I guess I just like that. So in this scheme, I guess I think of it sort of as a reset for myself; not a circle exactly, but a new path.

Other things beyond Level 7 are charity, prestige/celebrity, and doing things with bigger impact. Steve Jobs is obviously a celebrity, and I would assume he sees that as part of his success. PG seems to be in the bigger things category, hoping that YC will really change the world in a big way. Maybe he can jump in here and speak for himself though. I remember an article on here a while back (but can't find it right now) about what people do after exit events. It had these categories, but it was a little more thought out, if I recall correctly. Maybe someone can provide that link.