I am surprised and thrilled to know there are budding short film makers in this community. (I am particularly surprised by knowing that Anorion is one of them!) Although I haven't really made any short films, just edited some videos for college and previous company, but those were more of a collage then short films. But I have always wanted to direct and edit short films. And besides the tips already mentioned by guys here, I would just like to put forth my little knowledge in film making.
Usually short films are very difficult to make. You only have a few minutes to showcase your story. And everyone who have created short films and shared it on Youtube knows that a good beginning is a very important part to get the attention of the viewers. To do that is very challenging. In my experience non linear editing really helps in this regard. You start with showing the suspense. And later reveal the story by going back in time. (I would love to edit such story btw).
Another approach might be to show a glimpse of what's to come. So the video might start with some text, "Ajay and Vijay were childhood friends... little did they know that's about to change in few minutes!"
But a good start is just the beginning. You need to retain the attention for the duration of the video too. This is where actual editing skills comes into picture. You don't want to make a scene stretch beyond the attention span of viewers. Viewers have a tendency to try to predict what's about to come, and a great short challenges that tendency. To make a video unpredictable is very hard, and its the actual story which comes into play here.
The end of the video is equally important. This is where you have a chance to leave a lasting impression on viewers mind. To spell out everything is mostly bad. To let the viewers guessing is important. At the same time you also want to answer some questions so that viewers don't feel they are cheated and not call the story a work of fiction. (Even if fiction was your intent, you still need to make it grounded to reality somewhere). Ambiguous ending is another tool through which viewers keeps on guessing what might have happened, and in the process thereby involving themselves in the video more.
During the whole film, things like camera placements, shooting angles, closeup shots, is very important if you really want viewer's engagement with your video. A viewer enjoys a story more if they can identify with one or more of the characters of the film. And that's why it's important to have people of different personality to be in your film.
I don't know if everything I suggested makes sense, but that's what I have observed in my experience, without any former education in filmmaking. I will keep on adding suggestions as and when I remember more things. Till then, keep us posted of your efforts.