Hi Vinesh, the selection of extraction depends upon the type of compound you are looking for. You can refer, Phytochemical Methods, Harborne, Plant Drug Analysis, Wagner for more details
Soxhlet is extraction method for all phytochemicals.
If you want to isolate flavonoids and steroids you should go with column and HPLC analysis. Better you can read articles related to your plant species or family then you can easily find out the methods. Because isolation of flavonoids will be vary based on the plant parts leaves, stem, bark and fruits.
Soxhlet method works on principle of hot percolation, which is one of the best method among traditional methods. As every time fresh menstrum is received by plant material. For extraction of steroids you must extract first your dried plant material with any non-polar solvent like pet ether. After extraction marc is dried and again extracted with solvent like ethyl acetate or n-butanol for extraction of flavanoids.