There are "many ways" partly because what works for one type of cichlid doesn't work for every cichlid. Cichlids are a diverse group of fish with a wide range of behaviors and needs, so you need to narrow it down to which type or which species of cichlids to get any kind of good answer, plus size, age, tank size, etc. come into play. For example, Malawi mbuna you want to crowd, frontosa and a lot of new worlds you don't want to crowd. Or a species that might do well in groups as juvies may need to be kept as pairs or as a male and a harem of females once they reach spawning age.
There's no generic one-size-fits-all answer for all types of cichlids. What works best for one type could be a disaster for another type.