That's a fine plan you have already! A lot of it depends on the project itself, and what your goals are. For example, if you know exactly what you're going to build up front then getting all your requirements down, the design finished, and then starting to code is a great way to do it!
For me, most of the time, I have no idea what I want to build. I normally take an iterative approach. I'll start with designing part of my site - say a homepage. Then I build it. Then I test/deploy and start working on a different part of the site. I don't always stick to this rule. For example, if I design a homepage with blog posts. But I haven't coded that functionality yet. Then I might build that functionality knowing that it's rough and I can iterate on it later.
I really enjoy this process. It feels like I'm polishing a feature over time. And it means I can get to building faster. I don't spend too much time on planning.
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