It's okay. But you just put the card in the middle and then told him you were going to cut to it. Granted you fail, but the premise is not that impressive to begin with. Find a way to raise the stakes. Shuffle the deck, or have them shuffle. Or perhaps have them cut to the card. Somehow find a way to make it seem more impossible right off the bat. So they say "yeah, that would be impressive if you could find my card now!" Then do the mess up/color change reveal.
Also don't forget to get to know your audience a bit. Have some more fun with them. It's not about just getting through the trick (I can tell you know that, and you have a lot of confidence like mentioned already, but just something to keep in mind).
Good job!
Justin