It is becoming accepted in the industry that teams should produce a build on a daily basis. Every project at Microsoft does this as do most projects elsewhere. If you happen to be on a project that does not, I suggest you work to get one implemented soon. The benefits are great. After a daily build is produced though, what next? What do you do with it? Here is my suggested work flow. This is for a large project. If yours is smaller, feel free to collapse some of the items.
That's it for the daily testing regime. However, that's not all for testing. There are other tests you probably want before you are ready to release. These include: