Well that's pretty much how I did it. I wasn't perhaps religious with the regularity and quantity but the basic idea is to ensure that there are operating bateria that break down ammonia into nitrites and then some other bateria that break down nitrites into nitrates. With these existing (proved by the fact that you are adding ammonia, as your fish will do, and nitrates come out the far end) you can add fish safe in the knowledge that their waste will be removed rather than them having to swim in it (and be poisoned by it). The nitrates are not as toxic and can be removed by regular (I go weekly) water changes.