Hey B man, were you running that engine dry?
If so, you should always have the lower unit submerged in water when test starting an outboard. You can use a big pail, bucket or a clean trash can but you dont want your rubber water pump impeller just grinding away dry in there.
You probably didn't run it long enough to overheat the engine there or anything, but its always a good Idea to test start outboards wet, and then always look to see if the engine is spitting water out its small outlet hole when its running. This will confirm the water pump is functioning so the engine wont overheat and be damaged.
They even sell 'Muffs' like this pic below that clamp over the water pump intake in the lower unit. Then you just hook the garden hose to it.
You can see the water stream shooting out of the engine in this test start video, always make sure your engine does this to confirm your water pump impeller is still working/pumping water!
http://www.youtube.com/watch?v=HbHemXDEdJ8