Want to expand your entrepreneurial empire?

Here are seven great ways to do it.

One of the toughest parts of being an entrepreneur is finding the next opportunity to make it big in business. There is always another opportunity coming down the road, but your job is to distinguish the good ones from the bad ones and make smart business decisions that will set you or your startup ahead in the long run.

There are definitely ways to go about this that will set you ahead, and things that you can take advantage of to give you or your startup business an edge. The following are seven ways to do just that all entrepreneurs should be taking these opportunities if they can.

Invest in Multiple Businesses:

Most self-made billionaires are people who invested in many different business opportunities at once instead of focusing on just one idea. While there are also plenty of business owners who have focused on one idea and succeeded, it is harder to do this and if you fail, many more of your resources are lost. For the first-time entrepreneur, instead of taking an idea from the ground up, it may be more appealing to run other businesses and be a part of their inception, limiting your risk without limiting your opportunity for profit.

Angel Investors:

These investors are becoming more popular than venture capitalists in some industries, and the money that comes from them generally has far fewer strings attached or expectations than bank loans and money from venture capitalists. These investors can be great resources for the entrepreneur looking to stress less about funding and focus on product and customer loyalty and service, and angel investors are backing the market in a way that has not been seen before.

Crowd Funding:

Another funding method that is changing the landscape of all industries' markets is crowd funding. Sites like Kick starter have made it possible for entrepreneurs to circumvent the need for traditional loans and investors and instead go straight to their customers to inquire about interest level and garner the funds necessary to produce their wares and distribute them to interested parties. This has encouraged more innovation and diversity in the marketplace, and has done quite a bit to level out the playing field between competitors--and help to negate the edge that comes with being well connected versus starting a business from next to nothing.

Startup Incubators:

The founders of startup incubators function similarly to angel investors in that they provide many resources for a startup to begin its journey with very few strings attached and kickback expected in return. Though not all startup incubators operate in terms of funding, they can provide other much-needed services like office space, professional seminars, access to industry professionals, or access to the means of production to give startups of all kinds an opportunity to accomplish their mission. These programs are highly competitive, however, and your startup will need to apply to take advantage of them.

The Social Power of the Internet:

Strategically placing your business and brand in the center of conversations and creating a culture around your brand will effectively separate your business from your competitions by truly connecting to customers on issues they care about.

Foreign Markets:

Foreign markets, especially the Chinese one, have seen exponential growth in the past few years. Any startup owners that know how to recognize this opportunity for what it truly is--access to the largest market on earth--will be thanking themselves all the way to the bank.