I never followed a process when folding my fabrics, and now I have a huge stash that is a mess!
I advise finding a folding method you like and then sticking to it. There are websites and Youtube videos with great ideas. Google fabric organization and fabric storage.
Here's one video:
http://www.youtube.com/watch?v=rkTla...aoc&playnext=1
Oh, and I should add I don't advise ironing before storing; you will just have to iron again when you are ready to cut.