- Location, location, location: make sure the place you take the call is private and quiet.
- Timing is everything: be ready when the time is right.
- The incredible "invisible" candidate:
Of course you aren’t really invisible, but it sure can feel that way. The typical phone interview deprives both parties of physical cues both facial expressions and body language. It can be very disorienting to interview with people you’ve never met or seen, especially because often there will be a pause between your answers and the next question.
There are several more good suggestions. Be sure to check out ProfHacker's piece on hacking the phone interview.