Buying the right tool (aka gear) the first time...

The hard part is the choices. SO MANY choices, from the very common brands to the esoteric. And this is in generally all price points. That is both good and bad in this game, good because with careful selection you can get exactly what you want. Bad because there are lots of toys to potentially play with. Read reviews, demo if you can, look at other members input to the items you want to try. Once you establish a budget hone in on the characteristics of cabling, sources, and output that appeal to you and your senses. We all hear differently to a degree, room plays a huge part in that. One guy’s perfect, amazing system is another guy’s fatiguing nightmare. If you stick to the basic, well known gear at first you will probably build a good-great system right out of the box. Just know once you step in, it’s hard to step out!

I had to learn what I didn't like before I could discover what I did like. I suppose the don't like is possible to bypass, but with so many choices, variables and advice you'll eventually end up with a system all your own. Highly doubtful anyone else on earth has the exact same system. In other words, you're going to have to do a lot of work separating the wheat from chaff. Still, lots of good advice given up to now.

agree w many of the sentiments expressed

as in most areas of passion/ significant hobbies, the journey is as important (if not moreso) as the ’end point’/current state of affairs

i always think about a parallel in the world of enjoying food... we are fortunate when able to experience variety, learn and try new things, experience new flavors, preparations... our horizons are broadened, our senses are stimulated and sharpened when we allow ourselves to experience what others have found to their liking

Many excellent and useful responses.  I bought my first system in the mid 70's so I have been doing this for a few years.  I have changed speakers five times since then.  Analog source has changed twice and digital 6 times.  My electronics (amp and pre amp) once from my first set up and multiple times with Herron Audio. 

Just my two cents is to nail down the speakers first.  This takes a lot of time and critical listening. You need to determine the flavor of the sound you enjoy as previously expressed.  I would then focus on the source and electronics next.  It can be one and done but you can probably guess that it usually doesn't happen this way depending on how long you plan on keeping the system. 

If you are fortunate to have a good dealer network near you, this is the best way find the perfect match for you.  If not, it will involve travel.  Shows are a good source to get an idea of what you may like but I would never make a purchase based on a show.  Good luck!    

Just like any other hobby, the amount of self education about what's available, how it works and what it costs is essential with the added caveat here of what does it sound like? 

If you have friends close by with good systems you can learn more much faster as you hear them. Systems in retail stores and at audio shows aren't usually an accurate guide to what that same gear will sound like at your house in your room but can give you a rough idea of price and direction.

Trust your ears. Read equipment reviews but realize they usually aren't as objective as you might think they are.

Finally, enjoy the journey. Music is the best.