Wisdom of the Vator.tv community, Issue #1: Defining success in 2008

Different people define success in different ways. 

For startup executives and other entrepreneurs, professional success has typically been measured by a predictable set of company milestones: the first revenue customer, the first cash-flow positive quarter, the strategic acquisition or the IPO.

And perhaps no other group of people has their personal and professional success tied so closely together. With the Internet blurring the line between work and home, that's as true as it's ever been.

With the new year upon us, this is a good time to ask the members of the Vator.tv community how they define it.

For a startup executive who has poured money, time, effort and emotion into his or her business, the fortunes of their company can define who they are and whether they are successful. 

Yet the startup world has changed dramatically from a decade ago, when most Internet companies that could book a decent amount of annual revenue -- maybe $20 million, maybe $50 million -- were pretty much guaranteed an initial public offering.

Now, more than 80% of venture-backed exits come in the form of mergers and acquisitions.

Given that, the advice we've heard from some serial entrepreneurs -- to tough it out, hold onto your company and build something all your own -- has to be put in a different context. 

So do the words of other execs who've told us that startups should only hire people who are willing to give up their personal life.

Given how many of the startups represented on Vator.tv are targeted at family issues and people who run home-based businesses, we began to wonder what percentage of the Vator.tv community shares that view.

Do you? 

As part of our effort to get the opinions and knowledge of the Vator.tv community into our newsroom, we'll be asking a series of questions this year designed to spark debate among those who live the startup life.

The first of these Wisdom of the Vator community issues is this: How do you define success? How do you think startup entrepreneurs should define it? 

Let us know your thoughts by posting a comment.

Have a happy and successful new year!