How do I know I'm doing it right?

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Visitor stats, bounce rates, income from adverts.
You won't see much though. You've got nothing to compare the stats to. Wait 'till month 2 ends, compare the stats to month 1. Then find out how to grow (more).
 
Where are you currently advertising your site? Are you partnering with other related sites to exchange traffic? Take a look at what you have done so far and see where you can tweak your performance to enhance traffic. Track your efforts daily, even hourly to see if there is a spike after your promotion efforts. Then repeat whatever is successful.
 
AS you are saying it is a one month old blog, have some patience for it to age. The recent updates with google says blogs to rank well need some age.
Regular postings, using plugins like yoast to help engines to know about your site ( if wordpress), regular back link ingestions, analyzing the stats, analyzing the backlink strategies of the competing blogs and adopting positive strategies from them are few things that can be done as basics
 
It is still difficult to tell whether you are doing great or not, especially with the age of the blog that you are currently handling. What you can do at the moment is to wait for changes that can happen for another month that will pass. Constantly check your website stats, then make a move depending on the results.
 
What SEO work have you done to it?
If you can share with us, we will let you know if you're on the right track or not.
 
Can't say whether you are doing it right or not without seeing the blog in question. However, if you are experiencing so much as liittle bits of success, you are definitely doing some things right.
 
you're doing it right if you are happy with your earnings and have reached your goal.
 
Better you check it in Google Analytics, If you are doing the work, with the help of that you can get the visitors means you are going in the right path.
Otherwise you want to work more....
What are the works you are doing so far?????
 
If your traffic and advert's income increase consistently then I could say you are on the right path.
 
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