White balance vs color correction
Regarding the standard procedure, the short version is:

get the colour looking correct but neutral, which is when you do corrections for white balance and exposure problems. The footage will look &quot;natural&quot; at this point.
match the colour between shots (this is really part of step 1).
apply a creative colour grade, to achieve the look that you want. You can do this on a scene by scene basis, rather than shot-by-shot.

Usually getting the colour looking natural is the best place to start when applying a &quot;look&quot;. It's very hard to get a consistent look between shots that are not corrected to match each other.