Be patient

Similar to raising children, but perhaps even more important when raising a puppy, you need to go out of your way to be patient and calm. The dog will feed off of your emotional energy and it will go a long way in forming their permanent personality.

Puppies (especially labs) are going to chew things and cause some havoc. Just resign yourself to that, and make sure things you really care about are put out of reach.

Crate training is also a must. It will help greatly with potty training and also set nighttime boundaries with the dog.

You should also make key decisions up front. Like, will the dog be allowed on furniture or beds? Will you feed it once a day, twice a day, etc. Dogs are very much creatures of habit and once a precedent is set, it's hard to undo.

Lastly, frequent exercise goes a long way. If the dog is not getting exercise, they will find other destructive ways to burn energy and frustration. Take it on frequent walks (and assuming you have a fenced yard, take it out for games of fetch or other rigorous activity several times a day).