Well one way that i'm doing is, the band discusses how the general structure of the song is going to be like, then we discuss on how each section/part should feel generally.
After which, the rhythmic guitar part is to be done, den the lead comes in, which follows by my drums, but sometimes its vice versa btw the lead and drums. Then bass the last. For me, i use Guitar Pro to record all my thoughts. Also, listening to alot of songs helps. All genres. For eg, the pre chorus you think its not good enough, you want to change, but you don't know how, so you listen to alot of songs and get inspirations etc from others and then make your own out of those.
When the whole song is done, what i'd do is to re look at the details, like the "turning points", eg from pre chorus to chorus, or from chorus to verse. Cause drums are very important to bring the whole song over to the next page so to speak.
The satisfaction when you finish the song is breath taking, but realising that you did all that by yourself is unbelievable.
Well, only my humble personal view/experience on how to do. Never knew if its correct or not? haha