This is by no means the best or only way to do things, just a workflow that for this type of shot, works for me.
BLOCKING - After doing some thumbnails on paper, I tend to start with broad Key (golden) poses that convey the main idea.
BLOCKING - plus Additional breakdowns become apparent very quickly after this, where the action is not being described well enough. I tend to spread the keys poses out and fill in between with these breakdowns.
BLOCKING - timing A rough stab at timing, as until this point I've paid it no attention.
SPLINE - copied pairs Until now the animation is in stepped. On changing it to linear ( I tend to just go straight to auto-tangent as long as curves are flat) you find your lovely holds & timing has turned to mush. Here I add copied pairs, which is essentially bordering your key poses and maintaining those holds.
SPLINE - layering At this stage I start to look at how all parts of the body flow from pose to pose. I also add overlap and pay attention to any stutters/corners in the animation.
POLISH - I now look at texture, so any minor movement on top of the existing animation, individual finger movements, offsetting keys & movements, camera, anything I think will plus the anim that I haven't spotted until this point. It should really be icing on the cake stuff at this point though, not re-baking the cake :)