Yup that sounds good, I sense some rushing on your part and I'll be the first to say nothing good happens fast so take your time
I'd suggest researching the inital cycle of the reef tank but here's a crash course
With the live sand and live rock you should cycle quicky but you still will need to cycle. Only way to know you are cycling and that the cycle is over is to test for
Ammonia
Nitrite
Nitrate
If you have done some reading on the cycle then you know that first the ammonia will spike then nitrite and finally nitrate as the benificial bacteria become established
So as soon as you test for no ammonia (toxic for fish and corals) and no nitrites( proving your cycle is over ) then your free to add livestock most start with some clean up crew ( crabs snails ex) then some coral or fish is ok