Read the lyrics and determine the mood of the song. Does the message or story communicate upbeat, hopeful feelings or sad, lonely thoughts? For lyrics that convey multiple emotions, use the chorus to determine mood.
Apply either a minor or major key to the song. A light, happy mood is best accompanied by a major key. A minor key will help express the emotion of a sad, heavy or lamenting mood best.
Experiment with possible chord progressions according to the major or minor sound. Gary Ewer, composer, Dalhousie University music professor and author of "Gary Ewer's Easy Music Theory" says it's important not to shy away from using a simple chord progression for fear that it has been overused. Basic is usually better, especially for beginning songwriters.
Play one of the chord progressions you like while singing or speaking the lyrics. Speaking the lyrics can give you an idea of the best placement of the lyrics between chord changes if you have not yet established a melody.
Note the chord changes on your lyrics sheet as you identify best chord placement.
Play the chord progression according to your notes. If the progression's tones are a good match for the lyrical message, continue to use it. If not, repeat the steps in Section 2 using one of the other chord progressions you liked from Section 1, Step 3.