First off, don't do anything until you've tried a number of brands of ammo, and if you reload, a number of loads worked up for it!
Once you've gotten the maximum accuracy you can find for the ammo you buy or build, then you can consider what else you need to do to get it shooting tightly.
Most Ruger #1's will shoot just fine out of the box, especially if you're only hunting at normal ranges. Should you decide to target shoot, or hunt at extreme ranges, then you can work on extreme accuracy.
Frank DeHaas' book, Gunsmithing Ideas for Single Shots, is a great resource, and he covers accurizing the #1 thoroughly in that book. I have used one of his ideas to make a friend's Ruger #1 in .22-250 shrink groups at 100 yds, from 1.75" to .75". The key is a set screw to put tension on the forearm hanger and barrel. A 1/4-20 NC tap and 7/32" drill are used to drill and tap the hanger in the forward most end. Then a allen head set screw is installed, with non-hardening Loc Tite, and the screw is adjusted to just touch the barrel. Then the gun is fired at the range, and tension is added until the groups respond.
It's a simple fix for anyone with some basic tools and skills, but as I said, don't do anything until you see if it's needed.