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Monday, May 2, 2011

JMTC Carnival Post #1: How a million gold will change my game plan?


This post is written with JMTC's Blogging Carnival in mind. The topic is "What would you do when you reach the gold cap? (1M)". There's alot of good information to be found there if you're into gold making. My blog is called "WoW or Gold".

Satisfied and ready for new goals
With 1 million (currently sitting at 800k+) gold at my disposal i'll be happy about having reached my goal. It will feel like a good accomplishment after all these years of auctioneering and learning about gold making. When i've reached my first million i'll pat myself on the back and say "job well done!". After that i'll set my aim on the next big WoW goal. That goal will either be a gold related goal, ie. accumulating 3 million gold or it could be a gaming related goal like levelling Alliance Grayz to 85, get active with PvP or even PvE on my main (level 85 Hunter). Another kind of goal that I could aim for is working on my blog to make it look better, learn how to do certain things and even get into how I could write posts in various ways depending on the topic that i'd write about. Either way i'd have a lot of choices and the one goal that would appeal to me the most is the on i'd choose. A good thing with goals is that you can add new ones, switch or scratch them depending on how motivated or demotivated you are to complete them.

Possible 3 Million markets
If I choose to aim for 3 million after reaching my first i'll be looking into different markets that could be profitable. Some of them are pets, faction trading in order to buy mats cheaper or to find goods and flip them for a nice profit Horde side. Trying out new methods will be interesting. Not sure i'll do it to be honest, but if I put my heart into it i'm sure that i'll come up with some ideas worth trying out. If not i'll just look around for other gold makers' ideas and go for the ones that seem most fun at the time.

When I go for 3 million gold i'll need to make sure that my addon usage is optimized alot better than it is now. I can't be slacking because 3 million requires more focus than the first million, although i'm sure it's the exact opposite simply because the first million is the hardest to reach. After that a certain mindset should be active and with such margins it's easier to flip high value items, if they sell.

Knowledge rather than speculation is an important factor, at least from my perspective. An example where my point of view differs with many gold makers is the patch 4.1 nerf to Jewelcrafting. Many lost all hope of making gold. It was The End with a big D! No, it wasn't, it just meant that if you were 'shuffling' by vendoring the gems, you were screwed for not having more ways to move product. I'm not saying people with one crafting profession are morons, but if you have one profession and feel stuck the fastest way out is reading blogs and listening to people that know more than you do. That's why Stokpile, Cold and Breja were my favorites when they wrote about that nerf. Their points of view were different and thought through. They didn't panic. Neither did I. My reaction was just to diversify even more and to not stock up too much. Right, let's end this with some questions that are on topic!

Questions that i'll use to reach 3 million faster (inspired by Brian Tracy)
  1. How can you accumulate 3 million before the 1st of August 2011?
  2. How much net profit can you make per week? Use the highest number and beat yourself every week, one way or the other. Aim to gain gold per session and with as little time as possible in-game used for auctioneering. My experience is that I, very often make most of my gold when i'm away from the Auction House. The profits depend alot on what I sell and what the items i'm selling are going for. Mysterious Fortune Cards can be worth barking when my undercutters are away, but as of late I have more fun doing other things than watching my undercutters. I have 4-6 active undercutters on my server with 2-3 being online when I am.
  3.  Right, next question! How much profit will I need to make per day if I want to reach 3 million before my deadline?
  4. Which markets are most likely to be consistent all the way to 3 million?
  5. Which new markets can yield a good income?
  6. Which new markets can I get into that might last a while as well?
  7. How can I streamline my gold crafting when it comes to details like maintaing slots, mail transactions, toons to use for buying mats, toons with dedicated profession bags, make my post-time on the Auction House as effective as possible, decrease time spent on logins/logouts, download/activate/deactivate addons or simply put, become an even better gold maker?
The mind is a curious thing. Use it well and have fun while doing it! I did and that was the reason I survived Patch 4.1. I've spent less time online, spent 50k on speculation and fun to see if I could control a couple of markets on patch day. In certain markets the plan failed completely, but in other markets it was a success. Either way I went from 723k to 824k and Jewelcrafting was one of the successful professions that I made buck on.
Did you?

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