When you arrive in Basfelt Village you will want to set your bind point at the Obelisk and also grab ALL the quests in town. You will have to do quite a bit of running back and forth grabbing quests. Once you think you have them all double check to see if you're missing any on this list:
Scout It Out
A Cure for Crazy
Lamir's New Clothes
A Mystical Monster
A Fertile Field
A Matter of Pride
Making a New Start
The Broken Honey Jar
I left one quest out on purpose, which is "Put Your Money Where Your Mouth Is". Reason being is it is timed and we're not going to do it right this second. First things first, back track to where you talked to Karl earlier. Talk to him again to continue your quest. Now return to town and talk to Shania. Accept her quest and tell her that you're ready.
She will give you a 10 minute time limit to go and kill 3 Mosbears. The Mosbears can be found in one of two different places that are nearby.
Head to either of these places and kill 3 Mosbears. Once you complete your quest return to town and turn it in. Accept the follow up quest to kill Mosbears for 10 Mosbear Tusks and head out of town. Below is a video of where I usually go for this quest:
When you finish your quest use your Return ability to return to town and turn it in. Now that you're not restricted to a time limit you're able to do a lot more. After you turn in your quest in town you will want to head northwest to Idun's Lake. Here you will want to speak with Gornak, the guy that is sitting down near the large pillar.
Speak with him and turn in your quest. Accept the new one. Head a tad north of where Gornak is sitting and into the lake. Here you will need to kill Lake Spirits for 3 Spirit Crystals. Once you get all 3 Spirit Crystals return to Gornak and turn in your quest. Accept the follow up then head back to where you killed the Mosbears for the timed quest.
Here you will want to collect any of the remaining Mosbear Cub Leather from the Mosbear Cubs. You need 6 pieces in all. Once you have all 6 continue northeast to Gunmarson.
Talk to Gunmarson and continue your quest. From Gunmarson you will want to head northeast to the Altar of Tiamat.
Here you will need to kill 5 Rainbow Slimes and also use the Incense Burner to summon Infernus.
When you use the Incense Burner you will enter a quick cut scene. Afterwords Infernus will come running out and attack you. Kill him to receive credit for the quest. After you kill him and have killed 5 Rainbow Slimes use your Return ability to return to town. Turn in all of your quests and accept any follow ups. Now from town you will want to head northeast for "Scout It Out". Below is a video of where you will find the Wagon that you need:
You will need to smash the wagon open to get credit. After you do that you will want to head further west to the MuMu Village. At the MuMu Village you need to kill 5 Black Claw Mau's, collect 3 Fertilizer Sacks, 5 MuMu Hairpins and 5 MuMu Belts.
The Hairpins come from Gatherer's and Workers. The Belts come from MuMu Farmers and Lookouts and the Fertilizer Sacks you can find on the ground. The hardest quest in this area is "Making a New Start". This quest requires you to collect the Passion Ring, Jealousy Ring and Love Ring. Each Ring has a chance to drop from a different Mu. The Mu's and their drops are listed below.
MuMu Lu & MuMu Zen
These MuMu's wear the Passion Ring and can only be found walking around the village during the day.
MuMu Ring & MuMu Ang
MuMu Ring wears the Jealousy Ring and walks around the village at night until dawn. MuMu Ang wears the Jealousy Ring and walks around the village from Dawn till Night
MuMu Zoo & MuMu Di
These MuMu's wear the Love Ring and walk around the village from Night till dawn.
The MuMu Night till Dawn thing can get a big confusing. Chances are you will be here awhile if you choose to do the whole quest in one sitting. Usually I don't complete it the first time around then when I come back I will complete it. the option is fully up to you. Before leaving make sure you have the following quests complete:
A Fertile Field
A Matter of Pride
<Making A New Start>
NOTE: You can trade the Love Ring, Jealousy Ring and Passion Rings. This means if you find someone with any of the 3 rings or find them on the AH you can buy them and put them towards completing your quest.
After you finish all of these quests you will want to use your Return ability and return to town. Back in town you will want to turn in all of your quests and accept any new quests here. When you're doing in town you will want to head northeast to the Mosbear Habitat.