Make sure you're always spending the overwhelming majority of time working on elements that directly increase the number of interactions in your community.
If you increase the number of interactions (comments, likes, ratings, blog posts, befriending etc..) your online community will be better.
If the number of interactions decrease, your community will decline.
Don’t be sidetracked with writing guidelines, resolving petty disputes, writing metric reports. Spend your time on issues that directly affect the number of interactions. Spend your time stimulating discussions, reaching out to members, soliciting volunteers, arranging events, rewarding contributors.