Building rpm from source file

This is for the Redhat, SuSE and CentOS user out there. Sometimes when you try to search for rpm packages, the only thing that you find is the source file. You create rpm file using this source file:
1. save the source file(usually in tar.gz or tar.bz2 format)
2. extract the files-> tar -xvzf filename.tar.gz or tar -xvjf filename.tar.bz2
3. open the folder of the extracted file and find .spec file
4. type-> rpmbuild -bb filename.spec
5. see the error and continue according to the error until you finish creating rpm files
6. type-> rpm -Uvh filename.rpm to install

Hope this one can help.