The adjacent tiles

In the early stages of the game, you will need to generate cash by selling products from the New World in your Home Port. Thus, many of your early colonies should probably be situated next to bonus tiles, which greatly increase production. Rivers also increase production, though not as much as a bonus resource. On the other hand, they increase the production of many different kinds of goods, unlike a bonus resource.

In order to improve your colony, you will have to construct various buildings. This will require large amounts of lumber. For this reason, you should make sure that at least one tile adjacent to your colony site can produce sufficient amounts of lumber. You will also need tools to construct advanced buildings. Therefore, it is an advantage if the colony can also produce ore, which can be refined to produce tools. However, ore is not as important as lumber.

Some of the tiles may be owned by other European powers, or claimed by Indians. Building a colony too close to other settlements is not a good idea, unless you plan to conquer or destroy these settlements. But remember that colonies with a Stockade can not be abandoned. Keeping your own colonies close together is a good strategy, however, as long as you avoid sharing tiles between several colonies as far as possible.