If you've got 16 bag slots, I highly recommend that you upgrade your bag space to 18 or 20 slot bags. Some players don't consider adding four slots that significant, but four more bag slots means you have the opportunity to carry an additional 25%. If you're serious about WoW gold farming, then I think the benefit to being able to carry 25% more at any one time should be obvious.
And when it comes to bag space, remember to keep it uncluttered. You should constantly monitor what's in your bag and in your bank, and remove anything at all that you don't need. As a WoW player I know that you like to keep some items around for purely sentimental purposes, but those things are doing nothing more than keeping you from farming as much wow gold as you possibly can.
WoW gold farming is the method of choice for many players. It's a proven method that can help you throughout the game, but remember to make sure you're ready before you get started. Upgrade your bag space and keep down the clutter. Those two tips are the first two steps to making your World of Warcraft gold farming a success.
References:
http://wowgamer.easyjournal.com/entry.aspx?eid=3948998
http://wowgamefun.blogbugs.org/4420439/Officers%26%23039%3B-Quarters%3A-Guild-control.html
http://wowgamefun.webnode.com/news/the-ethics-of-a-botched-deal/