The WoW or Gold Brainstormz Podcast Index

Tuesday, June 14, 2011

10 Useful Guide Lines For Gold Making

Here's 10 attitributes that can have a positive impact on your gold making:
  1.       Be calm.  'Jewelcrafting was nerfed to shits!'  according to many gold bloggers as soon as the PTR (patch 4.1) showed the nerfed vendor prices for common gems. I disagreed. Regardless of what other people say you can think for yourself and stay calm enough to analyze all options before losing your hat completely. Remember to use the level of risk that you feel comfortable with. Only you know when you begin feeling uncomfortable.
Read on to get a list of 9 more useful principles that benefit you on your path of gold after the jump...

 2.       Reflect. Learn from past mistakes that you and others have done. In Wotlk the epic gem transmute cooldown was going to be removed, according to MMO, not Blizzard. This never went live and a lot of gold makers got angry at Blizzard for not implementing the cd removal. This was one of the reasons why I took the patch 4.1 nerf to JC lightly. If it went live I’d no longer vendor gems, but since I never only vendored gems and could transmute or DE the gems through shuffling it wouldn’t pose any kind of threat anyway. My simple solution would be to buy less ore if the profit margins got a lot smaller. Problem solved.
Related side note:
Honestly, the JC nerf was one of the major reasons I felt that I could add quite a bit to the gold community by blogging whether people read it or not, simply because so many blog, but so few really understand how to survive. Gold making isn't an activity, it's a mindset and if you listen to the JMTC meetings pre patch-4.1-nerf you'll hear the panic in many voices that I just laughed at. Right, enough! Let's move on muhahah.
3.      Adapting/flexibility. How fast can you react to what’s happening in your markets or with various professions? When things change make sure that you change some things too, if needed. Don’t change things around unless you have valid reasons to. A lot of gold bloggers panic for no reason at all. Be skeptic to what you read and hear, but use everything that might be useful on your realm or in your business. 
4.      Be decisive. You can cover all markets and do it okayish or you can focus more on fewer markets and have total control over how you work in those markets. Use your flexibility and rotate between the two depending on how dedicated you are at gold making and the amount of professions you have. When I had 700k I was dabbling around in at least 30 markets daily. I do have a different view on markets though. An example is that I don’t look at cut gems and meta gems as one market. To me, they’re two and they’re independent of each other. That way I can approach them differently as well.
5.      Integrity. Don’t get too greedy. Make sure that you have something you stand for when you make gold. Decide what kind of gold maker you are. Are you in it for the gold at all costs or are you helpful, but still willing to make gold? Are you only in it to reach a gold cap or a certain amount or are you doing it because the rest of the game is lacking things that interest you (like it did for me until ding 1 Million)? Whatever the reasons are make sure you know them and reevaluate them from time to time. It’s not just WoW that changes, we, the players, change as time goes by too! Make sure your goals are aligned with those inner changes. I have lists of things to do regardless if it’s gold related, acquiring loot or getting better at PvP. Those lists change daily. Some things become less important while other things stay on that list for weeks because they are very important. And no matter what, I rewrite the lists daily because the amount of ideas I get during one day can vary a lot (5-20) depending on what i'm into and how intense my desire is. This week i've hardly spent any WoW time at all, but it seems that my blogging benefited from it.
6.     Generalize and apply what you learn. Many might not agree on this one, but gold making should be more about what you learn than the gold pixels themselves. Why? What happens when WoW disappears and your gold does too? Will you panic? Will your life end? Or will you use your knowledge and apply it in new endeavors whether it is in real life or another game (waves at Stokpile @ Rift)? For my part, it’s all about applying the knowledge in real life one way or another. My goals are long-term and anything that I can learn on my journey will be learned for future use.
7.      Having fun. This is more important in-game than in real life simply because WoW should be played for fun. Running a business in real life can lead to fun things, but the fun part isn’t always as present as it is with video games. If you get bored of a market, get out asap! Take a break. PvP, Raid, run dungeons, get drunk and listen to Raid Warning, terrorize Jokinee on Twitter with Wodka jokes and toss meatbawlz at him. Do whatever, but whatever you do, take a break and get back into it bit by bit again to see if it's fun. If it isn't maybe drop a market all together. The Faire is in town and I have 4 decks to trade, but I don't feel like trading them in. 1 more day to go. Will I trade them? Most likely, but if not it's still ok. Dailies like the JC dailies and the Alchemy transmutes can really turn the game into a chore. If you don't feel like it, don't do it! Simple in theory, but can be hard when the gold focus is on a 100%. I have been addicted to gold making, so the reason I emphasize this is if someone is half as addicted as I was they might heed the warning, at least for the 2 seconds that this message lasts in they're mind before they go on to their goal; reading about making more gold. Yes, I salute you ACDC style!!
 8.      Diversify. Warren Buffett speaks about this a lot in various interviews. If you spread your markets you spread your risks and that is the main reason my pile of gold has kept on growing although I’ve bought lots of mats and not made profit on those specific sales, but have made profits overall. When you’ve come to a point where the exact material costs and net profits from the products no longer matter, you know that you’re close to mastery. I know that many would argue that is broken logic, but to my defense I’d simply say, if it was in real life, yes, then it wouldn’t work, but this is a game and I treat as such when I see fit. Also, it did lead to 1 million (for all those cap humpers out there!) Honestly, it doesn’t mean much to me although it might for you. My way of looking at things is different because I simply am different as a person. That’s the main reason I write differently and have another angle on quite a few things. Make sure that you make gold in a ways that fits you, not someone else’s standards. I’d do what I do regardless if it was “the way to do” it or not.
9.     Creativity. Take what others do and do it in your own way. A simple example is when Cold wrote that he found an item that could be sold in a certain stack size. Nev took that same item sold them in various stack sizes and made even more profits that way. (Yup, I’m waving at Nev and Cold here and this is a reference to Power Word: Gold episode 9). Just by changing an idea a few percent you can make it 10-30% more profitable. 
 10.   Balls. You’ll need to take risks in order to climb up the gold making mountain. Nothing comes for free. There will be times when you hit the jackpot and there will be times when your plans fail miserably. When everything goes downhill within a certain market cut your losses as quick as possible and move on fast. Analyze what went wrong, prepare for those exact miscalculations, maybe invest a little less and hope that you make a better bet the next time an opportunity arises. Also remember that some bets will pay off a lot better than expected. As long as you keep on going you have a chance to get where you want to go. Giving up is not an option. Ever!

The information is on the internetz Matrix style! Take your responsibility as a human being and search for information. Making gold now is easier than ever. If you find one blog you can easily find 20 others. There is no reason for you to be broke if you want to make gold. We all began at zero. We all learned things as we accumulated more gold. Some learned faster, others went deeper. Plenty gave up. Giving up is not an option. Like i said; Never ever give up! Ever!


  1. Wes and I also had quite a laugh at all of the chicken littles when the cut gem vendor prices changed.

    I kept asking myself, "What's all the fuss? People actually vendor their gems?"

  2. Seeing that guideline makes me think that gamers are really taking WoW seriously. Indeed it isn't just a game for most of us, yet a lifestyle.

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  3. Truly fantastic post and very much in line with the way I approach gold making and the game.

    Heck, I wasn't even doing the shuffle until after the nerf came about because it highlighted to me a way to make GREAT profits for hard work and consistency.

    Look forward to more posts.