Here's a couple,
1: Be consistent, children will adapt.
2: Your child's friends will probably have more influence that you, so root out the bad influential friends.
3: Discipline is good for your child. Don't let anyone convince you that you are wrong for it!
4: Have as much fun as you can with your child. They grow up far too fast.
Here's one, along the same lines as Druggas's #2: Know your child's friends. And their parents. Our neighborhood has a close knit community of parents and children, all of whom keep an eye out. I've been called by some of the parents in regards to my child, and I have also called other parents in regards to their children. We all look out, and that's key. You have to know who your kid is hanging out with.
And as far as #4 goes...My sweet little baby girl is turning 11 on Monday. I don't know where the years went, but they sure were gone fast.