Here's what I do, my city begins making money 3-5 years out from the start.
I start in 2000, and use a landform with water on three sides, with a river dividing from coast to coast - a peninsula and an island. The peninsula is primarily industry and services, and the island is commercial and residential.
Plan the two land/ocean corners for the dirtiest things - a powerplant of your choosing, incinerators etc. Use one coast of the peninsula for desalinization plants. Put your first of all the needed utility things and then zone some industry along the 'land' edge - I use 5x5 blocks spaced three squares apart - so this automatically cuts down on the impact of the smog - half of it is on the other side of the border, or in the ocean, and these enough space between things so the smog never gets too concentrated.
I run a road along the back edge along the industry blocks and bring it forward across the river, and then put in about as much commercial as I did industry, and then double that in residential. I have somthing that looks like this:
. . I I I I . .
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. . . S . . . .
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. . R R C . . .
. . R R C . . .
. . R R C . . .
. . R R C . . .
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The S is for services - start with one police, one firehouse, one school and one hospital. You never need to add another firehouse (I play with disasters off) but you need to keep the other three so you are getting a grade of B or better (or opressive for the police)
I never worry about the traffic warnings.
The I go and drop the tax rate a bit. 5 or 6% depending on my generosity, and thene I turn on almost all of the ordinances. I don't care much for the energy / water converation ones, but all the others, I pretty much go for! They're cheap now, when the city is small, and you might as well start things off on the right foot. and seriously, you'll be able to afford them with a profit by the 3rd to 5th year.
Then I turn on 3x speed, and watch it zoom up to about 30,000 pop - tending things that need to be watched along the way, like maybe add another police station or pipe something. Once I start making more yearly than my expenses, I expand the original zoning so the island has a stripe of commercial running down the middle and residential on either side.
I I I I I I I I
I I . . . . I I
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S S S S S S S S
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R R R R C R R R
R R R R C R R R
R R R R C R R R
R R R R C R R R
R R R R C R R R
R R R R C R R R
I find if there is ONE square zoned but not piped my population can drop 50,000 people in a year, so I check every now and then if I've connected everything. and I'm liberal with parks and fun items too. I don't put new industry in just because it's in demand, so I sort of try to limit growth based on industry.
When I have time on my hands I place parks around the coastline on the squares that won't zone but will carry a park, and then I put palm trees in the spaces between my industrial blocks, just to intensify property value.
My city swings between 650,000 and 750,000 pop right now, I'm working on what I can do to stableize that.