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That´s definitely some personal preference, depending on whether:
-You want to reserve some surplus income/gold reserves for wars, playing it very safe but expand your economy/technology a bit slower
-You play it somewhat normal and try to keep balance and gold reserves/credit around 0.
-As a great or major power you can also play it risky and purposefully go a into debt, but try to get more credit limit per week than you accumulate debt per week.
If done well, it expands your economy faster than maintaining 0 balance and gold reserves.
At the risk of course that a big war can screw you over hard and bankrupting you, giving you a lot more radicals and weakend military for 10 years.
If you have determined your comfort zone, I think you should at first build construction as long as you´re above that comfort zone and it doesn´t create an input goods shortage, then expand either construction goods (allowing you to build a bit more again) or something else that is very profitable.
As for universities and innovation: For countries that at start are technology leaders like GB, you pretty much only need to get as much innovation as your innovation cap.
You should probably expand innovation to cap somewhere within the first 5-10 years.
As for comparison with older guides (before patch 1.5), there are generally 3 reasons why following them blindly, especially "start with x construction sectors", won´t work:
-increased construction costs of nearly all buildings
-The MAPI mechanic, which makes local demand/supply matter a bit even at 100% market access and overall will hurt the profitability of your buildings, because a good will
decrease in price in states where it is comparatively overproduced and increase a price in states where it is comparatively underproduced.
To stay the least affected by this mechanic, it is recommended to somewhat pair inputs and outputs of goods: build buildings with a major iron consumption, like construction sector and steel, to a lesser extend also tools and engines, preferably in states with iron (+coal),
buildings with a major sulfur consumption, like paper, fertilizer and explosives in sulfur states,
and glass in lead states.
-Services, Transportation and Electricity being made 100% local goods. Which unfortunately makes the game rather micromanagement heavy.
It also suffers from pop needs not really working that well imo, and autonomous construction also sometimes doing ridiculous overbuilding of railways and power plants, at least in some patches.
For example, having 2 or even 3 out of Prussia, Austria and Russia (later, Scandanavia, the USA and even Italy are in there too) all supporting you against the French will make it much more of a stroll.
But you'll have to positively work towards that, in a focused way. Getting to that positive balance of power can be done by using your economic strength and "stretch" to empower your diplomatic strategy. Gradually build your diplomatic links and friends. Trade with your friends, starve your foes. Feed and strengthen your allies and they'll be strong and supportive, but make sure to stay one step ahead even of them.
And actually, planning all that and then working it through to success can be immensely satisfying, in game.
Have fun!