This is where the creative process begins for me. I typically sketch out how I want the project to look, based on the client input, including the landing page, and two internal pages. The wireframing step takes into account the target demographics, usability, and feel. This step can go through several revisions.
By the time we get to this stage, almost all of the revisions are done with the exception of minor tweaks, such as color selection. I create a mock up using either Photoshop or Fireworks. This one happens to be in Photoshop. All of the individual elements are created first, then placed into the main psd file, for ease of editing, and preserving original content.
Once the mockups are approved by the client, the site is constructed from the ground up. I do not use Photoshop or Fireworks 'slices', rather place the individual elements on the page using pure HTML/CSS markup. After this phase, the site is launched, and I update/maintain it as needed.