The first line "Wake early if you want another man's life or land" reminds me of the idea that if you can identify a trend early enough, you can reap huge profits from it - just look at the early adopters of Bitcoin that bought it for $1 a decade ago!
The rest of the sayings, to me, is emphasizing that you reap what you sow. There is no reward without effort.
I didn't realize the Vikings had such wisdom - I thought it was all pillage, rape, burn! Now I will have to read all the previous sections.
I like the way you've interpreted it and I agree. That's one of the great things with the quotes from the Sagas and Edda's, there's more than one way to see them and one can apply them to oneself as required.