Transplanting is your friend, ESPECIALLY if your growing is soil and plan on using anything bigger than 2gallon pots to finish in. You shouldn't have to go more than 3 days inbetween waterings, as more water = more oxygen = more growth. If you start in pots that are too big they amount of times you water during it's life is greatly reduced, they more you water, the more they grow. If you sticking to anyting under 2 gallon, you could leave it in there it's entire life, but if you plan on going bigger, tansplanting is the way to go. It also prevents the medium from staying wet too long and attraching pests like gnats. You can get away with never transplanting, but growth will be slow at the beggining as you wait for your medium to dry each time. I recommend at least going from a party to your final container.
I've also NEVER experienced any type of tansplant shock- if you don't transplant too soon you should experience the complete opposite effect- an explosion of growth almost immediately, if not even noticable within 24hrs. Just my two cents