I suspect my approach might be a little different, but I'd be interested to see how much.
The material I use is predominantly highly figured pine. This is mainly because my current wife, (I have had one less than Henry VIII,) really likes it and considers high quality timbers like Jarrah to be bland. (Not me Phully, it's the missus that thinks that.) Suits me, because with patience and a little conniving, I can buy it here for a song and she gets what she wants, I get tons of the stuff to play with and it's a very cheap hobby. (The pine is structural reject timber in the main)
I never buy wood for specific project, - a self-imposed restriction is that I must use what I have at the time. As I've acquired more machinery, that has become much easier. If my wife wanted something built from Tassie Oak, for example, the reply would be "Sorry, no can do." Same with a fixed design. Not interested. It's really not that much of a restriction, - most of us could build a world class heavy workbench from matchsticks if we chose.
I don't do plans and won't adhere to a specific design idea. I start with a concept, work out in my head how I'm going to achieve that with what I have to hand and let it evolve from there. (The "make do with what you have" approach instilled in me growing up on farm.) Not afraid to make radical changes as I go along. Surprisingly, I waste very little wood in spite of these changes. (Glue is truly a wonderful thing.) I'm no fine woodworker and don't aspire to be. Those of you who are professionals or skilled craftsmen would be doubtless be horrified by some of my approaches. To make something strong, functional, useful and pleasing to me is my aim.
Therein, lies the joy of wookwork for me, - the challenge and satisfaction of creating something that reflects my own (lack of) skills, experience and free will, - not what some plan requires of me. Sounds artistic, but I'm certainly no artist.
So what's your approach?