For sounds (VST synth...), I often use presets because I want to play quickly if I have a melodic idea.
For FX, I generally start from a preset and tweak it. Some plugins have really amazing presets, like the L-Phase, which have another great feature: the
small description. It should be available in every plugin (synth or FX). Too many plugins show presets with mysterious names and no explanation and it's a big waste of time to try them.