01Know Whether You're Entrepreneur Material
Entrepreneurs have to me made of tough stuff—stubborn, visionary, and a little bit crazy—so it makes sense to gauge whether you are entrepreneur material before you get started.
Related reading: Are You Entrepreneur Material?
02Think Problems, Not Job Roles
Allis is right on the money when he indicates that problems are what entrepreneurs need to apply themselves to.
A "pain point" is the market need that your product or service addresses. When you talk about your business, thing about what problem it solves.
Related reading: How to Create a Killer Elevator Pitch
03Find Opportunities in Problems
Entrepreneurs face many challenges—some externals and some internal. Overcoming setbacks is all about understanding what you're up against and crafting a plan to get through it. Furthermore, an ability to deal with setbacks is what really makes you an entrepreneur.
Related reading: Dealing with Entrepreneurial Setbacks
04Be Driven by Passion
If you want to start a business, you'd better be driven by passion—otherwise, you're in for a long, long slog without a lot of visible rewards.
Related reading: A Crash Course in Entrepreneurship
05Make Sure You Choose the Right Problem
06Align Problem With Purpose
Allis makes a great point when he tells us to align problem with a deeper sense of purpose—it's just a way to make sure that your commitment to succeed will be all the stronger.
07Best Business Opportunities for Millennials
These are the growth areas for entrepreneurs.
Related reading: Marketing to Millennials
08Align the Personal and Professional to Lead
The authentic leader needs to align his personal goals and professional ones to really inspire.
10Know What Great Products Do
Great products should connect with some fundamental human need.
11Master Design Thinking
"Design thinking" is a protocol that many startups use to make important decisions and successfully navigate change.
Related reading: How to Design a More Successful Startup
12Avoid Outside Capital at First
If you wait as long as possible before raising outside capital, you will ultimately control more of your business.
13Know How to Bootstrap
It's also a good idea to build your business by hand, at least at the beginning.
Related reading: What Bootstrapped Startups Do Differently
Allis favors the "Lean Startup" idea of "minimum viable product."
Related reading: Innovation by Iteration: Lean Startup 101
15Good Marketing = Good Storytelling
When it comes to marketing, keep it simple and stay on message.
Related reading: 6 Ways to Market Your Business on a Shoestring Budget
16Know Why Startups Fail
Let's face it—failure is a part of building your business.
Related reading: Grab Victory From the Jaws of Defeat
17Develop Good Systems
Systems will save your hide if you know how to implement them.
18Build a Strong Culture
Surround yourself with great people and your business will grow.
Related reading: Customer Service Lessons From Zappos
19Don't Be Afraid to Fail
Starting a business takes real risks—so don't be afraid to take them.
Related reading: 3 Things That Only People Who Have Failed Understand
19 Things You Can Learn From a 30-Year-Old Multimillionaire
Lessons Learned From Ryan Allis of iContact
Imagine being just 30 and already a startup veteran with a $170 million dollar sale under your belt!
That's Ryan Allis' story—he founded the email marketing and social media startup iContact in his 20s, and sold it for a princely sum just shy of his 30th birthday. Now believed to worth 40 million dollars, the millennial entrepreneur just released a 1,248 slide PowerPoint deck of his learning from life and business.
That's a lot of slides to go through—but we did it, just to give you the gems.