Thursday, July 11, 2013

What Makes a Good Gold Maker

This post will be featured in Cold's Gold Blogging Carnival, now hosted by Selltacular on Copper to Gold.  Check out the other great posts on the 11th!

So this months question was written by Nev, and it's based off my previous rant about TGE, so how could I not participate?

What is your definition of a good gold maker?  How do you measure gold making success?

Good Gold Making

GoblinRaset and I addressed this question a bit in our podcast we recorded this week, which you can check out here!  You don't have to be a rocket scientist to make a whole lot of gold in WoW, but you do have to put in time to effectively master different markets, and experiment.  A good gold maker isn't satisfied when he has one method down, and repeats it over and over again, that's the same as farming.  A good gold maker explores other venues, and tries new things, and is willing to take risks to optimize his or her methods.

A great gold maker is never satisfied.  They've got their hands in every market and they still want to play with more niche ways of making gold.  The possibilities to make gold in WoW are seemingly endless (although they are indeed finite), and someone who always looks to comprehensively understand their markets is someone who's going to succeed in gold making.  They don't just follow, they lead.  People have this misconception that there's some big secret out there that we're all hiding, and we make our millions behind your back, but that's not the case.  I can say that everything I've ever done in WoW to make gold is somewhere on this blog, or on my comment history on The Consortium Forums or reddit.  I can't keep my mouth shut!

Some gold bloggers try to protect some of their secrets, but I know that keeping secrets won't be helpful for long.  People are going to find out.  There's no method you can think of that hasn't been thought of, or won't be thought of eventually by someone else.  Like I said it's not revolutionary, but putting your all into learning and experimenting with new methods is what sets people like me ahead of the pack.  That comprehensive understanding of markets, knowing why they're doing what they do.

How do you measure gold making success?

There's no true way to analytically compare two gold makers, success is in the eye of the beholder.  I used to measure it by how much gold I'd make, or how much I was beating a competitor out of a market, or even by how many angry whispers I got when I logged my bank alt.   While these are indeed functions of your success as a gold maker, the true measure for me is sharing your success.

What I have personally enjoyed over the past few years was being able to share my experiences with others, and the community of people around that are willing and eager to discuss and learn from each other, and even help out those who are new.  A great example of this is WoWProfitz, who although he claims to be an amateur gold maker, has gotten the spark going on many an aspiring goblin.  It's all part of the learning process.  No two people make gold the exact same way, and part of developing your own strategy is to see what others do, and create your own hybrid of methods.  I think that the quote "If I have seen further it is by standing on the shoulders of giants" really rings true here.  To me, I'd rather have 3 people message me saying I helped them make a million gold, than have the 3 million gold myself.

Cheers,

Phat Lewts

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

1 comment:

  1. I've said it before, but since you've stated it so nicely here, Phat you've helped me make 1m gold, and in doing so helped me spend over 200k buying pets :)

    Bones

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