Well as someone who more or less still is a kid (19

), I can say some things that I really appreciate my parents for doing.
The first and biggest thing is that my dad (and mom to some extent) always brought me along, by that I mean they didn't change their hobbies or what they liked to do because I was born, instead they shared it with me. A guy I know at work has a kid who is a few years old, and he doesn't bring him anywhere! The guy really loves dirt bikes and stuff, but he won't buy his kid a dirt bike! For me, literally before I could walk or talk or do anything my dad had bought me one of those electric Jeeps from Walmart. Then as I grew up he upped the power on it, then I got an go cart, then an ATV, etc. I remember my dad would bring me to NAPA with him and always buy me a Hot Wheels (which I still have). He would bring me into the shop with him, he would tell me about engines and what he was working on and all the engineering terms, I didn't understand any of it but it was being ingrained into my head and eventually I understood it (hell, I'm learning stuff in my engineering classes now that my dad explained to me last year, or 3 years ago, that at the time I just nodded and kind of knew what he was generally talking about and then we get to it in class and I'm like "oh! that's what he was talking about!" and then I'm 5 steps ahead of everyone else). There's a picture of me on the wall when I was like 4 with a drill motor drilling trying to drill a hole in the concrete driveway. The point to all this is just because they are a little kid doesn't mean you can't share your passions with them.
Next, don't be overly protective. Obviously there should be times to be worried and stuff, but don't overdo it. I'm from one of the last generations where computers weren't super popular until I was in my teens, but let your kid get dirty and stuff. Let them fall down the stairs (but don't let them get too hurt), otherwise they're not going to learn. You can't learn to ride a bike without falling over a few times right? I would also encourage them to stick up for themselves. Too many people nowadays are *****es about standing up for themselves, or being politically correct, or whatever. Teach your kid to have his own opinion. What my dad did when I was in school was teach me how to fight and throw punches and stuff, and told me to not start a fight but if I got into one or was bullied than I should damn well be the one ending it. Even when I got sent to the principal a few times, my dad always stood his ground saying that his kid was not going to get bullied and except "sorry" later on. As a result, a few times kids tried to do something (elementary, high school, even last year in college two times people tried to get into it with me) and it never worked on me and as a result those kids would then respect me and I wouldn't have issues with them anymore. Some of those may seem a little overkill depending on your perspective, but what I'm saying is be there for your kid but give them freedoms.
And lastly since it's getting late, and perhaps the most important lesson I can think of is don't force your opinion or beliefs on them. Even though I am very mechanically inclined--I am on my way to be a 5th generation on my dads side, and at least a 3rd generation engineer on my moms side--and I have never doubted I would get an engineering degree, my parents have always repeated that if I don't think engineering is the right choice then I am free to go whatever path I want and they are there behind me. If I switched to an art degree, or dropped out of school, or take a year off, whatever, my parents would be there every step of the way and if I ever needed them they would move the world to help me regardless of what decisions I had made. I think that means a lot, since I have met a lot of people in college who are getting a degree because there parents want them to, or are majoring in something a counselor or parent told them they should (for example, just because you are good at math/science doesn't mean you will like engineering). Sometimes you might need to nudge them or suggest something since you have a lot more experience and can share your knowledge, but leave the choice with them in the end. My sister (senior in high school) wants to go to Cal Poly San Luis Obispo. We can't figure out why she wants to go there, her reasoning is she likes the ocean which she has only been to once... and she's getting a liberal arts degree, so it's kind of a weird choice and it's pretty expensive. My parents have asked her about it and recommended other colleges, even visited a few with her, but if she wants to go to Cal Poly my parents aren't going to stop her and will help her all the way there and back. That kind of support is immeasurable in my opinion.
I could write so much about this and I'm not even 20 or plan to have kids for awhile haha. Good luck man, you'll do fine! As long as you teach them good things they'll only be an improvement on yourself!