To raise might, raise hero levels, raise hero skills, instantiate new heroes, give your heroes higher level talents, etc. But if you are getting enough bases you can beat, then you can probably afford to raise your might. Raising your might means you face harder enemy bases for raids and expeditions, etc. Once you get within about 10% of the next level, then you might consider going for it. Generally, I would say don't push real hard to get there. You should always be considering going for that next level of might. I am a 'King', which gives 100 gems per day. The primary source of in-game gems is your daily might bonus. This post is about how to get gems, and how to spend them. Everyone who plays CC, FtP or otherwise, gets a gem income.