v1-5 - Peter addresses men called to serve as elders, which he describes as shepherds of God's flock which are under their care (v2). Peter gives three negative imperatives for how elders are to watch over the church:
NOT because they have to or just because it's their turn;
but because they're willing.
NOT doing it to dishonestly enrich themselves;
but because they're eager to serve.
NOT lording it over the church to get their own way;
but by being examples - servant leaders - to the church.
Serving as an elder is not without reward, however. When the Chief Shepherd appears they will receive a crown of glory that will never fade away.
v6-11 - This is one of my favorite benedictions in the Bible. Here's my paraphrase of it. Notice how many aspects of this blessing begins with something you must do in order to receive it:
Be humbled under the hand of God almighty,
so that He might lift you up in His own time.
Throw all of your worries on Him,
because He is concerned about you and cares for you.