That isn't really enough in my experience. There are 3 questions - is the team happy? Are they shipping? Is what they are shipping valuable? - and I've seen a lot of new managers are so overwhelmed that they forget about number 3 and a fair chunk of people end up unemployed because sooner or later the bean counters figure out that the team isn't actually productive.
This article, overall, doesn't identify achieving excellent outcomes as something he got wrong at first. I suspect either he is a natural manager or it is a mistake that is still being made. Probably the latter based on the other mistakes identified. The journey I've seen usually goes from lost -> controlling external perceptions of success -> oh I need to actually succeed and it isn't what I thought.