Exchange 2007 Migration to Office 365

I have a small business customer that I'm moving to Office 365.  There are just two users at this company.  In order for them to move to Office 365 Mail, they'll need Outlook 2016.  Exchange 2007 doesn't work with Outlook 2016.  What is the best way to make this happen smoothly?

Timing is of a concern since they make and ship parts.  Changing their MX record and getting their email loaded into Outlook 2016 will be a challenge.

Here's what I'm thinking.

1.  In their current older version of outlook, which works with Exchange 2007, save their email, calendar items and contacts to a PST file.

2.  Download and install Office 2016 from their Office 365 accounts.

3.  After Outlook 2016 is installed, point it to the Office 365 Exchange Server

4.  Import PST file into each user's profile

5.  Change MX record to change from their on prem Exchange Server to Office 365.

Any thing that I missed?

Thanks!

-Ted