Usually I begin with research, then very rough thumbnails for a character concept. Then its onwards to creating a drawing to finalize the character design. For this project I was inspired by the style of Oliver Comiel who did the recent Thor comics. Knowing he worked from pencil to Photoshop I undertook a similar process.
When finished with my thumbs, I created a pencil sketch, though it did have some minor problems.
From that point I developed value and turn around from the original.
Then color comps.
From there I picked the best colors based on feedback. I used the power of Photoshop to fix some of the drawing issues. Then I painted the colors on the value work and added a back view to the turn around.