Well, first of all, I hope whatever company you will be working for is going to both provide you with VPN access, as well as pay for your home internet, since it is now a business requirement. Once that stuff is out of the way...
Ensure your workspace is both comfortable and void of too many distractions. It is very easy to be either 10x more productive when working remotely, and also 100x less productive. You will have to learn to manage your time very well.
It can also be hard to get used to not working in collaborative environment, so make sure the proper communication mediums are present. Invest in a quality phone with either a good speakerphone, a comfortable headset, or both. One thing I hated when I worked remotely was long conference calls on a crappy phone.
Depending on how mobile you will be, since you mentioned a laptop and cell phone as your mobile office, I would suggest setting yourself up with some sort of semi-permanent home office with the above prescribed phone setup, which you can set your cell phone to forward to, as well as a proper keyboard-mouse-monitor and a quality laptop docking station.
The biggest pitfalls are avoiding the distractions, staying connected, and staying visible.
When the boss is considering who to promote, since he doesn't see your face around the office every day, you might not be at the top of the list.
Make sure your presence is known.