Goblin Mindset: The basics

Welcome to day 1 of the Lazy Goldmaker 1 year anniversary contentpalooza. This week is the one year anniversary of my blog and I will be celebrating by writing one post per day.

The Giveaway

Now to celebrate my anniversary I will be giving away one of the Battle.net store mount and pet bundles. The winner gets to pick which of the three they want:

  1. Alterac Brew Pup and Enchanted Fey Dragon
  2. Grinning Reaver and Argi
  3. Twilight and Luminous Starseeker

Entering the give-away is dead simple. Just subscribe to my E-mail newsletter in the box to the right. I will draw the winner on Sunday and contact him or her to get their choice of prizes!

A new schedule

As part of my anniversary I will go to a new schedule for my blog. Going forward I will post three times a week. Posts will come out on Monday, Thursday and Sunday based on the following general guidelines:

  • Monday: Goblin Mindset, community spotlight
  • Thursday: Market guides, TSM settings, applied gold making
  • Sundays: Zero to One Million challenge, market analysis, sales analysis

My Goblin Mindset series will highlight gold making from a conceptual point of view. Why does stuff works, which general tactics can be exploited. How you should approach gold making.

You can check out some of my earlier posts on the subject here, here and here.

This is of course my personal framework for thinking about gold making, which I have successfully applied to 7 realms so far to make over 12 million gold in profit since Legion launched, while paying two subs with tokens.

Time is Money

The first clue to my philosophy should be obvious from my pseudonym. I am The Lazy Goldmaker. This is both a description of me and my core philosophy. People are effort minimizers by nature. You and everyone else will always drift towards the path of least resistance.

This is the number one characteristic you should seek to utilize in your gold making endeavors. Anything that requires an effort to acquire can be profitably packaged and sold for a premium in WoW. This doesn’t have to be items, although that’s where my focus is. It can be more gameplay-oriented services like carries, both PVP and PVE.

What does this mean?

You can obtain any item in WoW by going out and interacting with the game world. This can be questing, rep grinds, farming mobs, crafting or farming nodes. As people are by nature effort minimizers, this means you can get them to pay a premium for giving them easy access to what they need through the auction house.

This is what I base my entire gold making operation on.

Some examples of this effort minimizing behavior that you can take advantage of includes:

  1. Farmers posting their stuff below market to sell it quickly
  2. Overpaying to get the right amount in as few clicks as possible
  3. Paying a premium for crafted items you can’t make yourself
  4. Posting lots of auctions with the standard UI is super hard so people won’t do it

I will go more in-depth into these themes and show they relate to the markets I am in and my approach. For the 4th one the obvious answer is to use TSM to minimize your effort in re-posting auctions.

In practice

In game my approach is very simple. I use crafting professions to craft useful end products that players are willing to pay to get instantly. By leveraging TSM I can buy materials cheaply and post large volumes of items at the Auction House with very little effort. Crafting is boring to many players, so they are more than willing to pay to avoid having to do it themselves.

I also do flipping which is the most time-efficient gold making strategy in the game. Here I rely on farmers being willing to sell their stock well below market value. By being more patient I can keep my stock posted at higher prices and earn a profit reselling items.

Figure out a way you can provide items to other players at a lower price than the current auction house prices and you will be doing great!

 

 

One thought on “Goblin Mindset: The basics

Have a question or a thought? Leave it here: