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The second thing I would do is to accumulate as much cash as you can. This is because when embracing an institution, you have to pay for each province where the institution hasn't fully spread in it. The higher the development, the higher you have to pay (I think it's capped at 30 development).
The last thing that you can do is to invest your monarch pts in provinces to make it spread faster. The natural spread is increased by the level of development of the province and you also get some progress each time you invest monarch pts in the province for increasing development in addition of accelerating the monthly spread. I hope this will help.
Edit: I think that the innovative idea group has an idea that accelerates institutions spread. It could be a good idea to take it since it also includes an idea that reduces tech costs. Other idea groups reducing the cost of techs would be a good idea too. Aristocratic reduces military tech costs, diplomatic for diplomacy and administrative for the last one.
Its ether bugged or trying to screw me.
So when Colonialism starts, pick a province and start dumping monarch points into it. You can then "buy" the institution if you don't want to wait for it to spread to you naturally.
This works for all institution levels. I saw a video where a guy embraced the Renaissance as Ming by ~1460's.
Instead of thinking "who I will conquer now to use my ADM?" you should be thinking "should I conquer, increase stability or develop provinces?" The game changed, change with it. Or fail.
Mind you, if you're one beast of a horde player you can get away with it. But if you, like me, are struggling to maintain your horde unity and survive beyond 1550 as a horde than you best not mess around with developing provinces as a horde.
That does't work for colonism, 0% everyone in euro but the spain area in 25 years.