I'm not contradicting Russ, but I generally shape the outside of a bowl (mostly natural edge) with a faceplate in the top. I use a 3 1/8" Fortsner bit to get my flat for the 3" faceplate. Then I turn a mortise to fit the outside of my chuck jaws. One thing I also do is leave a small tenon in the middle (about 1" diameter). In the middle of this I turn a small hole with a skew for my tailcenter when I reverse the bowl.
Then I mount the chuck and hollow the bowl with the chuck holding the bottom. In this way I loose the minimum material depth, as compared to using the faceplate on the bottom of the bowl, where I have to use a large faceplate so I can subsequently turn away screw holes or remove the screw penetrating depth plus the groove width for the parting tool. I have not had good success with trying to hot glue faceplates onto green wood by the electric frying pan method even after drying the wood using a heat gun so I do not use the wasteblock method. Using Titebond for a glue block would lose me time and require extra in-process waiting steps, which I try to avoid.
After I sand the bowl, then I remove it and jam chuck it using the tailstock and shape the inside of the foot, removing the jaw marks. Then I mark with one of the superfine or extrafine Sharpies and hit with the heatgun for a few seconds to dry the Sharpie solvent so my Daly's Teak oil finish components do not transport the dye away from where I originally put it, which has happened in some cases.
Derek
P.S. Thanks, Russ for the tip on the Daly's Teak Oil. I like it a lot better than plain tung oil which takes way too long do dry and doesn't build near as fast.