There is no wrong or correct way, it depends from project to project. Generally speaking it’s good starting point, but for example I normalize after recording if that is necessary, I always try to record to max -6 db so I have enough head room to work with, so one of my, let’s call it starting point, chain goes:
then in multitrack
That is on vocal, after that goes mastering chain.
This is form that I use for making standard commercials (supermarkets for example witch are always same). If I’m working on imaging, I would NOT (this was missing )render file with reverb and delay, because then I can’t control them. In this case mentioned above, I give small amount of reverb and delay, and compression makes it louder and more noticeable trough the chain.