For me the usual process I undergo is:
1. Poking around with samples and synths endlessly
2. A sound catches my attention and triggers creativity in me - this is the critical step for me, I get inspired by sounds. If that does not happen, I am stuck (similar experience anyone?)
3. I lay down a melody using the above sound, then it may go two ways (which one I don't know at this point):
4a. The melody is a lead
4b. The melody is a background melody
5. I poke around with drum and hat samples, choose fitting drums in order - Bdrums, Snares, Hats
6. I may add some pads/bass sounds, but that is rare, I don't know how to do it well yet
7. I lay down some patterns and do the core of the song, so I have a stable rhythm
8. I expand the song with various new ideas I get along the way, altering the core I get a longer and changing song
9. I further add some "solo-sections", where I let some elements quiet, for example I play only the lead for a while, or only the drums and bass sections without the lead
...and all the chords I do I do in 6th step. I just grab a synth and accomodate some chord transitions to the lead melody, or even establish a chord-only sections.
I do not really focus on actually trying to create the chords, they come across on their own somehow.
Oh man, I got carried a bit off-topic as I see now, sorry for that.
And the words-to-chords technique? I've never heard of it and I have no idea how I would start to do it
I don't have any lyrics for my music, is that a problem?