I follow the same sequence for any figure, whether it's a 1/48th Monogram pilot, or a 54mm Prussian hussar for my toy soldier collection.
1. Clean the unpainted figure first, removing mold release compound (eg, on plastic figures) or accumulated dirt and dust (eg, on an old Stadden figure in a 3-figures-for-$10 bin at a toy soldier show)
2. Clean any mold seams, sprue gate scars, etc
3. Assemble the figure, if necessary
4. Prime the figure.
I repeat 2, 3 and 4 as necessary, because often priming shows places I missed.
5. Paint the figure. I usually start with the basic skin tone and paint from the inside out, for any exposed skin and uniforms, then go back and pick out the details like facial features, uniform details. That can include applying washes for highlighting, too (I can't paint faces in 1/72, too small. Burnt siena to the rescue!).
6. Apply any sealers as necessary
Those aren't necessarily hard and fast, of course. There may be times when I do one before the other, or maybe leave one out (Stadden figures come primed from the factory, for example). But it's a general sequence.
Hope that helps!
Brad