I was hanging out with Jim of Power Word: Gold the other day on his gold making live stream and one of the questions one of the views posed was how to get the initial starting capital to begin your goblin empire. We of course answered the question on the stream (at least I think I managed to say something useful) but I wanted to delve into the subject a bit more in detail and in a medium a bit easier for people to find.
Starting Your Empire
First I wanted to touch lightly on the act of getting your empire assembled. You’ll want to start out slowly, pick one or two professions to get your feet wet and get used to running your business, might I suggest Jewelcrafting and Enchanting? The idea here is to start with one or two things, and then branch out from there once you’ve gotten comfortable with your current markets. Don’t bite off more than you can chew is what I’m saying here, take it slow.
One way to get capital is going out into the world and farming for gold, e.g. spending hour upon hour killing and looting mobs. I do not suggest this, there is a terrible gold/hr and there is much better options out there.
Farming for Materials
This involves going out with a farmer, preferably a herbalist and miner combo, and collecting the materials from the world. This is a very good method for two reasons. First, it leaves you with a dual gathering character that can become very handy when materials are tight or during an expansion launch when the best gold making comes from gathering.
Second, it allows you to make a choice of either selling mats on the AH for gold for starting capital, or using the mats directly in your ventures. For example, if you decided to go with my suggestions, a Jewelcrafting/Enchanting combo and a Mining/Herbalism combo, you could use the Ore gathered directly to go about your Jewelcrafting and Enchanting (there’s a plethora of information about how the synergy of these two professions work – Google is your friend) and decide either to hold the herbs to use later when you expand, or sell them for capital. I suggest selling the herbs until you expand into a market that requires it, the starting capital will serve you better, and chances are prices are only going down, so hoarding them won’t do you any good.
One thing to stress here is just because you farmed it doesn’t mean it is free. I can not stress that enough, and everyone in the gold making community will back this up. Even when you are using your own farmed mats you should treat them as if you bought them off the Auction House, not only is this good business sense it gets you into practice with relatively low risk (no capital is technically on the line).
Selling Vendor Items
You would be surprised how many players out there will buy items off the Auction House that could be found from a vendor, either from ignorance or from laziness, and you can make a pretty penny off these people. I’m personally a fan of vendor pets, but there are all sorts of items out there people will buy ranging from recipes to armour (for transmog, twinking etc.). They key here is to get a route going, take your biggest bags, make a few stops at mailboxes, and hit every vendor possible while you’re out there to maximize the gold/hr of this and to minimize the tedious aspect of this method.
If you play your cards right you won’t be in this stage for very long and will soon outgrow these relative small gold sources. Remember to start out slowly, if you run along at break neck speed you might do just that – break your neck.