One precaution would be for the concentrated sulfuric acid, which is caustic and dangerous. The reaction should probably be done in a solution of phosphoric acid with a catalytic amount of sulfuric acid. The acid isn't there to protonate the acetate ions, really. The acid will activate the carbonyl of the acetic acid by protonating the carbonyl oxygen. This increases the electrophilicity of the carbonyl carbon, making it more succeptible to nucleophilic attack by the ethanol.
If you are concerned with yield, take note that the reaction is easily reversible. Since water is a product of your esterification, the presence of water will decrease yield of your ester. This is the primary reason why you would want some concentrated sulfuric acid, to quench the water in the reaction mixtrue. Removing water from the reaction mixture is not necessary, however. To increase yield, you can also use an excess of one of your reactants (e.g. use 5 mol acetic acid/mol ethanol).
The reaction usually requires heating to make the reaction proceed at a reasonable rate. In an organic lab, this would mean using an air condenser and performing the reaction at reflux. If you don't have access to such equipment, be sure to perform the experiment in a well ventillated area.