you got it. your work will be the same all the time, you just spiral up and the piece gets longer and longer.
the task is the same with every stitch. The first stitch on the left gets worked and becomes the first stitch on the right (seen from the tip of the needle)
You hold your work infront of you so that you work on "your" side of the circle. Someone described: you have your knitting happen in the spot that you would drink from if your knitting was a cup of tea.