As many of you have figured out by now I'm not a typical blogger. In fact I wouldn't even call myself a blogger, but rather an internet marketer who runs blogs for profit. Some people consider this unpure and unethical, but I think of it as providing quality content that is so good that the information can be sold. That being said, having the mindset of an internet marketer has helped me greatly in World of Warcraft for several reasons. It has also provided you with a unique look at World of Warcraft which you won't get from any other WoW blog on the net.
1. Diversification - I will never ever try to make all my money from one source. Whether it is daily quests for professions, flipping items, crafting for resale, etc. I always diversify my selling options sometimes to the point of hundreds of markets at once.
2. Automation - Getting as much automation into the equation as possible gives you more time which makes you more gold which opens up more opportunities to make more gold. Time = gold and automation = tons of saved time. The difference between someone who uses snatch scans and QA3 in combination and someone who doesn't is the same as the differences between night and day. An example of how automation can work for you is my 22 Steps to Using Auctioneer post.
3. Perception vs Reality - Perception always has to be present to make a sale. Then, when the person has made the purchase then the reality has to at least live up to the perception. When selling items to buyers scamming them is never the right call because you lose that buyer forever.
4. Never Stop Learning - The World of Warcraft is just that, a living breathing world of information. You can never stop learning when attempting to improve on your own performance. New patches, new ideas, and new methods are constantly appearing and it's the job of a successful businessman to do his research and go find this information.
5. Passive Income > Work - Having farmers send me their goods, especially having farmers mill, prospect, or craft for me before sending the items, has done wonders for improving my income in World of Warcraft. After getting enough farmers to send their goods to me on a daily or weekly basis, there is never a reason to go farming ever again in WoW. That's as close to passive income as it can get in this game.
6. Community - Participating in and setting up the JMTC WoW Gold Forums has provided not only myself, but my readers with a place to congregate and freely share ideas about making gold in World of Warcraft. It was the JMTC forums that I learned about several great post worthy topics which I have blogged about in the past and put to use in World of Warcraft. There's always someone out there smarter than you or bigger than you, why not learn from them instead of being jealous?
7. You have no control over the market - Yes you can influence the market and perhaps do it more than the average player depending on your gold levels, but you never ever truly control it. This is a hard fact about economics that many players and real world traders have trouble grasping. I can't stop 300 people from posting ink of the seas 5 gold less than me. Whether you react or don't react to a market situation is the only quasi-control you have over the market. You have influence, but no control.
8. Credibility is Everything - I could not sell carrying packages for 1800 rating in 2's (and sometimes 2000 rating) without my gladiator title or YouTube videos. Credibility really does follow you everywhere and it is always the difference between making a sale and getting the same old, familiar cold shoulder.
9. No Idea isn't Worth Trying - Regardless of what you decided to try, it's never stupid to try it out and take a risk. When I first started selling essences of undeath I had no idea whether the lifestealing enchant would be enough of a market to sell them. Boy was I happily underestimating how many I would sell and for how much. Soon I was selling them for 400-800% of the cost to initially buy them for reflipping purposes. Never say never.
10. Grouping Up has its Benefits - Just like in online marketing, grouping up with a team of people has tremendous advantages for making additional income. By focusing on group strengths and dividing up tasks based on those strengths, in this case professions, you can greatly increase the gold generated by the group. Setting up professions for specific characters and dividing up the work between multiple players/characters has worked out surprisingly well for me. Currently I have loose agreements with three other high profile sellers on my server which allows us to avoid stepping on each other's toes and focus on our own areas of making gold. We have each picked a set group of items for each profession as well as times of posting and we try to avoid undercutting wars between the four of us. It's mostly an informal and unorganized thing regarding the time of our postings, as we simply look at who's on and decide based on that for ourselves but it's still a loose grouping of people with the aim of achieving a similar goal: more gold for everyone.
Markco hosts his blog on World of Warcraft gold guides, hints, tips, and strategies for free at: WoW Gold Blog
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