When putting up drywall its important to pay attention to the joint compound being applied because it is a crucial aspect of the job.
In an informative post on Construction.About.com you can learn some useful tips for applying joint compound more effectively.
For example it s advisable to apply at least three coats of the compound. The first one will be used to cover the tape overlapping it three inched on either side. The second layer shall be used to establish the seam and the last one being the finishing coat.
For more tips click here.