Am I on the right track? See my high level steps

1 - build your site with keywords
2 - submit to search engine and directories
3 - build in recipricol links to your site for page ranking
4 - add affiliate programs links to your site for income generation
5 - determine how you want to advertise, adwords or pay per click etc
6 - add additional features to your site like forums, newsletters etc
7 - develop a commerce component so something can be purchased from you
8 - your site gets to big, then split it off to another website but link both sites together

By the way all this stuff above is ALOT of work. I am guessing it can take me a year to do all this. Am I on the right track?what am I missing?
thanks!!!!!

STEP 1: Determine the need. Is there a legitimate need for your site?

If there are 3 million sites exactly like yours then chances are with out spending a good deal of $ on advertising you probably wont do so well. Instead of making the same old site, make it better. Look at your competition see where they are failing and offer people a better alternative.

STEP 2: Build your site with keywords, and make good use of the header tags. <h1>, <h2>, etc.

The rest of your steps seem to be on track, although my personal opinion is never put up a site until its finished. I would add the newsletter, and forums (with only a few sections) right at the get go. The topics, if relevant can bring users into your site from seach engines, etc.