Pretty much. You'll probably want to receive updates for all networks, and advertise only yours. Here's how I did it:
! list all of my public network segments to advertise
access-list 10 permit x.x.x.x 0.0.0.31
access-list 10 permit y.y.y.y 0.0.0.255
access-list 10 deny any
route-map localonly permit 10
match ip address 10
router bgp MY_ASN
no synchronization
bgp log-neighbor-changes
network x.x.x.x mask 255.255.255.224
network y.y.y.y mask 255.255.255.0
neighbor 10.99.2.1 remote-as MY_ASN
neighbor 10.99.2.1 description IBGP to my other router
neighbor 10.99.2.1 update-source Loopback0
neighbor 10.99.2.1 version 4
neighbor 10.99.2.1 next-hop-self
neighbor my.isp.ip.addr remote-as ISP_ASN
neighbor my.isp.ip.addr description EBGP to my ISP router
neighbor my.isp.ip.addr version 4
neighbor my.isp.ip.addr route-map localonly out
In this case, I had two routers, each running BGP with a different ISP and between themselves. Also, they ran HSRP on the LAN side.