Wednesday, April 11, 2012

Overcoming Obstacles in Gold Making

Today I read a blog post from 'I am Mcfluffy' called Why everyone is making millions of gold but you....  This is probably the most well written and in depth blog post of it's kind, and you should really give it a read.



 Seriously, read it now.  



Now if you are someone who is in the position of those who are written about in that article, I have an idea of how to get past it, and start making some serious gold.

Set Goals
If you want to seriously start making gold, set small goals, and set them often.  Start out with maybe 5k.  Don't spend the 5k once you have it though, your overall goal should be to have a much larger wealth of gold.  From there aim for 10k, or 5k plus 'Maxed Alchemy or JC'.  From there keep building.  Don't have a goal of "Buying 310% flying" (unless you're a farmer wanting to be more productive).  Setting such goals will not make you the most possible in the long run.  To make the most gold, you're going to need to spend your gold on raw mats to craft, or items to resell.

Be Realistic.
We don't all need 1 million gold.  Hell, I don't even know why I'm sitting on a mill right now, I have nothing to spend that much on!  For me the fun is in making the gold, and the more the better.  Set a realistic overall goal for you.  Maybe 100k, even 50k.  Make this goal an "At all times goal" once you hit it.  Once you get it, don't go below it.  Continue making gold, and always have at least your minmum on hand.  Your minimum can be the cost of raiding flasks for the month or 150k because you feel like it.  Whatever you want it to be, choose what's best for you.

Don't expect to make this much gold overnight.  Expecting to make 100k in one week is preposterous.  Are there people who can? Yes.  Can most?  No.  Planning out your day (Purchasing, Crafting, Listing) is important because how you manage your time directly relates to your gold making.  If you only have around an hour on any given day to dedicate to gold making, you have to optimize your time.  Learning to use addons like TradeSkillMaster to do this is a great use of your time, and are a gold maker's best friend.

Choose Gold Making Strategies That Work For You.
When choosing a gold making strategy, of course there are some that make more gold than others.  During expansion releases, farming is probably the best way to make gold for the first few weeks.  But if you don't like to farm, don't get those types of professions.  If you don't like crafting 100's of glyphs, don't waste your time leveling inscription.  There are a lot of resources out there for gold making, read up and figure out what method is best for you.  There's no right answer, as long as you're doing something that's making gold and not losing it!   If you choose something that you ENJOY, you will be much more likely to stick with it, and not get bored of it over time.

Try New Things
There are lulls in every expansion, especially during the end of patches, but don't let that get you discouraged.  Can you get good at PvP by sitting in Trade Chat and reading PvP guides all day?  No.  You can't get really good unless you get out there and use them for yourself.  The best way to learn how to make gold is through experience.  Reading all the gold blogs in the world won't make you a single copper.  You have to try some of the methods for yourself, and see if it's something you want to do, or something that works on your server.  Always keep up with your gold making, and always try new ways of making gold.  I hope this helps some people out, and more so I hope that if you're interested in gold making at all that you read that article.  It's a really great read.


Cheers,

Phat Lewts



If you like my blog posts follow me on twitter @PhatLewtsGold!

4 comments:

  1. I'm on an English speaking Eu server - not a place where money is thrown around!

    I've followed the pathe you;ve outlined though - by accident - and today I'm happily making 3k a day. You have to learn the game and learn to make gold - I bought a guide (or two) to see if there was a trick - and aside from learning the Shuffle, ad how to set up a few add ons - I learned there was no trick - just graft and paying attention to what works and what doesn;t.

    Mogging, on a mainly UK server, just doesn't cut it for example. Find a nice item at a good price - mark it up and bark it, and you'll be told (in a nice English way) 'Looks shit mate'.

    But having come to Wow late (just been here 18 months) I've gone from making 1k a month on bags (and being pleased), to learning to work a few toons to make my mini gold factory. I've only really been trying to make gold for a month and a half - I made 30k last month, and made that much in the last 10 days. So I'm even more pleased with being on target to make 90k this month. And I will have no idea what to do with it.

    Set a goal - hit it - be happy and set a new one. Can't beat that advice.

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  2. Agreed. I've always had enough gold for minimal stuff since I never really spent it and I dabbled in flipping on the AH but wasn't much of a goblin. I don't have a lot of time to play anyways.

    Recently thanks to the Mogfather, I got into mogging. I can do that in an hour or two every day or every other day thanks to TSM. I'm on a smaller server so sales are slower but I've only recently started getting some competition and people have also gotten used to my prices (i.e., the Mogfather's prices) so sales are increasing. Important note there: if you have no competition in a market, don't lower your prices if sales are slow. Be a little patient and the market will adjust to you. Another tip: don't get discouraged by hate mail/whisps. I get a couple every week; they're hilarious! :D

    I started with a goal of 50K, then 100K, 200K, etc. Current goal is 250K but I'll probably hit that tonight and go for 300K. I've also rewarded myself a few times (bought the big Haris Pilton bag for the achiev, bought some mounts for achievs (Traveler's Mammoth, Mechano chopper, etc) to get to Mountain O' Mounts, bought a nice crafted piece of gear that was BiS, etc. I'll probably buy some of the rarer pets now if I see some good deals since I still need the 125 and 150 achievs (got 122 atm). Once mogging slows down on my server, I'll set a goal of moving into another market that looks promising (or I might try several since I've got a ton of alts that need lvling...).

    Anyway, keep at it. Raise your goals in small/proportional increments and give yourself small/proportional rewards along the way.

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  3. Lol - i set out to buy my mamoth over a year ago - then when I'd made enough I couldn;t part with the gold. But I bought it last week, as a treat for hitting my 30k in a month goal, a week after splashing out on 10 epic red gems. And I still have more gold than I;ve ever had and I'm making it faster than ever. It does take time to get good at it. So the best get rich quick method is to be in it for the long haul and keep going. Once you've got some momentum - kerching!

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  4. I love setting goals, then rewarding myself with something expensive. Hit 250k, buy a magic rooster, hit 500k buy a spectral tiger and x-51. Of course after that last hit I am down to under 200k, but it just makes me more motivated to make gold faster!

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