Oh I know puppy crazies!
I'd disagree slightly with draining all their energy before training. Puppies tire easily, and will be less likely to want to learn if they want to sleep. Pick a time where he seems quite calm, but still active.
With a puppy as young as that, you want training to be FUN, it has to be a game! If your puppy loves tugging on a tug toy, interrupt the game and lift the tug toy just above his head, and he will sit. Say 'sit' and then praise him like crazy, and carry on with your game. You can use the same method but with food instead of a toy. Training has to be short and quick, puppies have short attention spans.
With it being your first pup, I'd advise finding a good dog training class which uses positive methods.