Add the rock and shrimp and cycle both the tank and rock together. If you add enough cured LR
(with little to no die-off from transport) you may not even see much of a cycle.
I would add 1-2 fish at first. Let your tank mature and figure out how it works then you can look at some corals.
You have the general idea. Make sure you get the liquid test kits and not the strips. Also, I wouldn't worry too much about testing pH the first month or 2 since the readings will be all over the place.