|Know Your Realm's Market|
|Entered a new JC market with simple gems|
When I enter new markets (which I just entered the JC market - thanks to Elvine and Benjamin for your help/info!), there are several things that I like to have in order personally and to a certain level of simplistic detail (oxymoron? who cares...it has to make sense in a way that makes sense to you personally, if not, find a way to make it make sense. Now that's a lot of repetitive words...)
Here are the things that I like to know and hopefully by sharing them, it will help guide you in your endeavors into your first market, second, or simply your next market of choice:
- Take It Slow: There is no rush. Take your time, baby steps. Don't ever rush into a market so fast that you don't know what you're doing or haven't done your homework. Make sure you have the steps in the most fundamental way possible that's repeatable. Ask yourself...does this make sense to me? ONLY THEN proceed.
- Look In The Mirror: Look at what you can enter across your toons with the least amount of effort. Whether you're entering with your professions, knowledge of an existing market, or simply want to spend some gold and jump into a new area.
- Market Analysis: Look at various sites/resources for YOUR realm and see if it's profitable BEFORE you jump in. Don't be blind sided and know what to expect. Now I'm not a financial genius in anyway, in fact I hate math - my mind just doesn't work in numbers but more so in pictures, but simply looking at basic numbers and charts, you can get an idea of what's what.
- Know Your Competitors: Searching the AH can tell you a lot about a market by itself. Are the same people listing the same items and types of items consistently? Perhaps that's a tell tale sign of a monopoly that you could break into. What kinds of items are they selling? What are they typically selling them for? This will help give you a benchmark over time of price ranges.
- Enjoy Competition: Being harsh in-game toward people is never the right approach. Some people will in fact message you, yell at you, make fun of you and more. NONE of this affects your gold and it shouldn't affect you. Learn to have tough skin and don't be afraid to /ignore.
- Lean on Partnerships/Friends: Yes, I said lean on those folks who maybe are already successful in that market on another realm. The gold-making community is special and I haven't run into anyone yet that wouldn't share what they know. Learn to be a great student of the game. And don't' forget to reach back to that person to thank them, maybe even share a success that you had because of them. This goes a long way and will help establish friendships AND mountains of gold.
- Be A Great Student: Learn from everyone and everything. Learn from your successes and more importantly, your failures. Learn to take advice, objective criticism. Learn to adapt and become humble. Avoid negativism like egos or showing too much pride/vanity. Egos don't make you gold, following a simple process and routine does. It's a methodical process orientated game. Learn those processes and adapt them to YOUR realm.
- Contribute/Share: Receive free - give free. If you know something that's working for you, then share it. If you've modified and existing process that you've learned, then share it. The community is always willing to embrace new faces (if they embraced me, they sure as hell are willing to embrace another knowledgeable person who has new ideas)
- Work Smart - Not Hard: Yes, it's quite possible to do all this gold making without using any addons to help you buy, sell/relist, and value items. But it's also a lot easier if you do. For one, you'll know that you're making gold, how much of it you've made in what areas, list items in a matter of seconds, buy items with the same speed, and more. (This is where addons are SO helpful - TSM, Auctioneer, Auctionator, bag/mailbox addons, etc).
- Have Fun: I always say, if we can't laugh, we're doing something wrong. Listen guys, this is a game. Nothing more than that and it's that simple. Learn to enjoy yourselves. This shouldn't be a second job, it shouldn't add more stress to your life, and it shouldn't make you an angry person. If it does, then take some time and do something else in game and come back to it. The most important thing is have fun.
I'm off to dabble in the JC market now...soon to be tailoring.
Enjoy the game.