As long as the motor is stored tilted all the way down you are OK. I tilt mine all the way up and back down several times after removing the boat from the water, just to make sure.
Several things should be done before putting an outboard away for the winter:
1) Change lower unit oil. Make sure there is no sign of water in the oil (cloudy or "coffee with cream look). Water freezing in the gearcase will ruin a lower unit. If there is indication of water, have a shop do a pressure test to check the seals.
2) Treat the gas with a fuel stabilizer. Some will say keep the tank full (less chance of condensation) I say almost empty and fill up with fresh gas before the first outing in the spring.
3) Fog the carb/cylinders with a good fogging oil. Some motors have a port for this, others you squirt the oil in the spark plug hole. This keeps internal cylinder parts from corosion.
When you pull it out of storage, fill with fresh gas, start it up with cuffs at home to burn out fogging oil. Change the fouled plugs (fouled from fogging oil). If you do these things your outboard will outlast you!
If you get on WC do a search on winterization...lots of good info there.