I think this is spot on but overlooks the most important thing I stressed with first time managers I had promoted. Make time every week to be alone and think about each person who reports to you and know what you need to do to make him/her successful. You really have to invest time in your reports to develop them and make sure their work is advancing the team to be succesful yourself and to ensure that the person you manage has the best shot at succeeding. Oh, and you have to do weekly 1–1s. Sorry. But you do.