If you chose to, you could sell your title ingame for EP to buy more stuff related to what you want to do, but if you wanted to do blacksmithing stuff, you could be a mayor and make your town be a blacksmithing town, or something like that. But if you wanted to just be a blacksmith on a smaller scale, i'd have room in my town for a blacksmith ;)
With your pledge at that level you'll get more than one spark of life. So you could always govern a town but make another character in your town as a blacksmith, so your doing both things. Just have one as your main and one as a side character. If they are in the same family as well, you can use the mayor to fund the blacksmith :D
If Alpha 1 is your main thought right now though, you could pledge at that level and worry about the other stuff later, because you can always drop titles or upgrade your pledge for stuff later on.