We always called it the fear factor. If you did something that put the pucker factor at 10... you didn't do it again (or at least made the move with more caution).
Best advice I give to rookies is to learn the limits of your bike. Learn to do nose wheelies, not to show off, but to know the stopping limits of your bike so you know when to stop and when to lay it down. Also, get some track time in at a local track--you'll begin to learn teh limits of your bike (wiggles, brake bias, rebound, dampening, etc).
Have fun, but be careful.