Welcome to FT!
Originally Posted by
highroller4321
There doesn't appear to be an easy to read simple guide on the best way to do things.
There really isn't. Prepare to do a lot of reading

That, and asking questions, or searching past threads (and depending what you're looking for, FT search sucks -- often you can get better results by doing a Google search for "site:flyertalk.com" plus your search terms).
Originally Posted by
highroller4321
I read through a lot of threads and see a lot of talk about fare class being 2nd most important to medallion status. Is there an explanation of what exactly each fare means and how important it really is. When you don't do the advanced search on delta and just book standard economy what fare class is that?
There is a hierarchy of fare classes within each cabin. If you just search for flights on the Delta site you could theoretically end up with any of the fare classes, depending what flights you select. If you are generally booking the cheapest flights, nothing wrong with that, but will likely be one of the lower fare classes so will put you lower down the priority list for complimentary upgrades.
Originally Posted by
highroller4321
Any tips on how to upgrade the fastest? I now have the delta platinum card and will easily charge $50k, through my business, which should get me 20k MQM as well as the spending wavier.
Here by "upgrade" I assume you mean, achieving higher status. Status is earned by MQMs (and MQDs, but you will have the AMEX $25k waiver). Earning status faster means earning MQMs faster. Earning MQMs faster means flying more, and/or spending more on DL-branded AMEXes. If you will max out one card you could consider getting the Reserve card, and also business versions of the cards. Some people have all 4 and max out the MQM bonuses.