That's about right except a couple of items. Depending what brand/model scope it is; it may have a speed ring. If it does you need to know how fast your bow is shooting an arrow, to set the speed ring
Also sometimes it is better to sight in at your normal expected shooting distances for hnting. Being as you have 4 crosshair lines you may want to think about the top crosshair sighted at 15yds then 10yd increments for the lower 3 crosshairs