That is one good way but it is hell if you goof things up or want to change things later. Lately I've become enamoured of the white screw-terminal blocks they sell at Rat Shack. It's simple enough to use a short wire between adjacent terminals for when you need to Y-off a power or ground line and you can easily keep the power/ground wires separate from the signal & speaker level lines. Tinning the stranded cable is preferable but not required. Besides, you can re-use these without shortening your wire each time as you cut off the soldered or crimped on length. No trips across town for that one last missing crimp connector, no soldering required for those of us less skilled in that black art, and no burned fingers from the hot lighter from shrinking the tube.

YMMV of course...

-Zeke ---stepping of soap box---