Asianese, your solution doesn't quite work. There are a few inequality signs the wrong way around which ruin your idea for proving the inequality. It can be fixed but the entire second half of your argument will look different.
Good solution carrotsticks, essentially the same as mine.
No, AM-GM is the only essential step really. Spotting a neat factorisation isn't entirely necessary, althought it makes the solution look nicer. One could also do the question like this, just using AM-GM and grouping suitable terms together: