Nah it looks like a solid start, you have protected your back by taking out Norway and created two buffers with Riga and Hamburg. with serves well to protect Scandinavia and thereby reducing the need to keeping garrisons there.
Besides your solid plan the thing to consider is probably how to deal with Novogrod. If allowed to grow strong they will certainly go for Riga and that will distract you from the Brittish isle. It would be really useful for you if you could prevent that by getting their neighbors to take them out. Especially if you can snatch Novogrod itself in the process.
The Scandinavian cities need to be developed a bit before the generate allot of money. Or perhaps your keeping a heavy garison. The AI is pretty single minded so you usually only need troops at the first city they will attack.