I like growth-oriented startups in that it is more of a team sport here. The promotion is pretty directly tied to:

* Doing your part to make the revenue grow. For management, going from say $1M annual revenue in seed to $3M in A means the company can support 3X the staff. Joining a startup is basically a bet that you can outperform when unleashed.

* Surf that wave. Show it makes sense to put new hires below you vs above, or give you increasingly big responsibilities, etc, bc you managed the past ones well. Startups run to their limit so can feel like pressure cookers, and they're relatively small, so your demonstrated ability should be pretty apparent to hands-on leadership.

* Compensation comes out of that. Stock becomes worth more, you get bigger refreshers, more experience, new title, etc