19 Things You Can Learn From a 30-Year-Old Multimillionaire

Lessons Learned From Ryan Allis of iContact

Updated July 26, 2018

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.

01
Know Whether You're Entrepreneur Material

••• Ryan Allis of iContact. Wikimedia Commons/CC BY-SA 3.0

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?

02
Think Problems, Not Job Roles

••• Slide Courtesy Ryan Allis

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

03
Find Opportunities in Problems

••• Slide Courtesy Ryan Allis

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.

04
Be Driven by Passion

••• Slide Courtesy Ryan Allis

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
05
Make Sure You Choose the Right Problem

••• Slide Courtesy Ryan Allis

Many entrepreneurs find that the road to business success is much longer than they anticipated. So make sure, before you set out, that you have hold of an idea that will really help you go the distance.
06
Align Problem With Purpose

••• Slide Courtesy Ryan Allis

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.
07
Best Business Opportunities for Millennials

••• Slide Courtesy Ryan Allis

These are the growth areas for entrepreneurs.
Related reading: Marketing to Millennials
08
Align the Personal and Professional to Lead

••• Slide Courtesy Ryan Allis

The authentic leader needs to align his personal goals and professional ones to really inspire.
09
Plan Ahead

••• Slide Courtesy Ryan Allis

Planning pays off—so why not start that business plan today?
10
Know What Great Products Do

••• Slide Courtesy Ryan Allis

Great products should connect with some fundamental human need.
11
Master Design Thinking

••• Slide Courtesy Ryan Allis

"Design thinking" is a protocol that many startups use to make important decisions and successfully navigate change.
12
Avoid Outside Capital at First

••• Slide Courtesy Ryan Allis

If you wait as long as possible before raising outside capital, you will ultimately control more of your business.
Related reading: How One Crossfit Affiliate Owner Built a Thriving Business Without Outside Capital
13
Know How to Bootstrap

••• Slide Courtesy Ryan Allis

It's also a good idea to build your business by hand, at least at the beginning.
Related reading: What Bootstrapped Startups Do Differently
14
Prototype

••• Slide Courtesy Ryan Allis

Allis favors the "Lean Startup" idea of "minimum viable product."
15
Good Marketing = Good Storytelling

••• Slide Courtesy Ryan Allis

When it comes to marketing, keep it simple and stay on message.
Related reading: 6 Ways to Market Your Business on a Shoestring Budget
16
Know Why Startups Fail

••• Slide Courtesy Ryan Allis

Let's face it—failure is a part of building your business.
17
Develop Good Systems

••• Slide Courtesy Ryan Allis

Systems will save your hide if you know how to implement them.
Want to Get More Done? Create Your Own Productivity System
18
Build a Strong Culture

••• Slide Courtesy Ryan Allis

Surround yourself with great people and your business will grow.
Related reading: Customer Service Lessons From Zappos
19
Don'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