I recommend checking out this video on negotiating a raise at your current job.
So the role of good feedback in a performance review is to help you get that promotion or raise. In big companies like Meta, this process is more formulaic, but since you work at a small startup, I imagine it may be more ad-hoc and you have to argue more for what you believe you deserve.
Here's some thoughts from me:
- Save the feedback - Copy-paste it into a personal document that you always have access to like a Notion, Google Doc, etc. You never know when it will come in handy, and it's always nice to look back at the nice things people have said about you.
- Match the feedback to the next level - If you have some sort of career matrix that describes expectations at each level, use that. If that doesn't exist (which it very well may not in a startup), compare the feedback to other engineers in the company that are at that next level (so senior for you). Let's say you got some feedback like, "You did a great job leading this project with an ambiguous product definition and tight deadline.". This is clear senior engineer behavior - You can use this feedback as an argument that you deserve that next level.
- Learn From The Feedback - Of course, this is the main thing to get from feedback! Just because the feedback is good instead of constructive doesn't mean that you can't extract ways to grow from it. A lot of growth is taking what you're good at and becoming great at it. For example, let's say that you've gotten feedback that you're really good at communicating and people enjoy collaborating with you. Something to think about is how you can turn your people skills into a "superpower" - Can you build even stronger relationships with all the leads/execs in the company?