You've grasped the technique, but I think you can still go a bit slower on the shutter speed and home in on the moving subject more to get rid of the background. Keep up the good work
Whilst there's a part of me that agrees you can never get too close to the subject, I quite like the space in front of the cyclist, creating movement as it gives him somewhere to go.
I agree that the shutter speed should be slower, to really emphasise the movement and get rid of background clutter like whatever is under that car port behind the cyclist. I also think that the cyclist's face and jacket are way too over-exposed, taking two stops off the exposure would also remove the background from the focus even further.
And I know it's picky and it might just be me but I'd remove the bottles and holder, the pack and the glasses.
I'm not sure that zoom burst is required for a moving object. It can add a sense of dynamic to still photos (see a couple of mine below) but you should be able to generate that from a moving cyclist without "cheats" which don't really tie back to the original brief of moving objects and a blurred background.