Normally the black wire is for the fan, and the blue wire for the light kit. Both are hot leads. Make sure this matches your leads at the switches. In other words, you should be using a combo fan/light switch or two switches. The red wire is normally hot lead for the light switch, in which case it is matched to the blue wire at the canopy.

Sounds correct. If you have a switch controlling the fan instead of the light swap the black and red wires around.