Try this order. Its pretty much the one I use except that at 2 use a 3D tester and use its number at step 3 and then load the tool I need after cycle start. 4&5 are interchangeable.
1 Reference machine
2 Load 1st tool that the program will call for
3 Make sure the right tool number is in the tool# box
4 Move tool to top of part and zero the Z Dro
5 Edge find X and Y zero DRO's for these 2
6 Move z up to safe distance
7 Load program
8 Press Cycle Start
My impression (can't say 100%) is the when a program load the offsets are calculated.