changing backup from itunes to icloud, and Apple ID at the same time

Hi Community

My current iphone backups are with iTunes on my pc. I want to start backing up to iCloud, and begin doing it with a NEW Apple ID (I have another iphone using the same Apple ID and already using iCloud).

Should I do the following:

1- sign out of my current Apple ID

2- sign in with my new Apple ID

3- Should I then backup to iCloud?

4- Setup family Sharing?

Anything else? Or something completely different?

Thank you in advance.