I fully agree with your advice. If it fulfils a genuine need and adds significant value, then people will contribute.
One thing I’d add is ignoring the fear of feeling vulnerable. Ask your audience members for direction or their opinions. Sometimes, as the host of the community, we can fall into the trap of feeling pressed to always have the answers. But ultimately, as SouperC said, the reason to exist is paramount. And if you are in any doubt - ASK.
Always better than guessing.