As an entrepreneur, you may have come to that point in your life when you are ready to reach your full potential. While this will spur you on to greater business success, it may also encourage you to diversify what you currently do. One proven route for all entrepreneurs to follow here is investing any spare cash or business profits you may have.

One stumbling block that you may come across is just where to invest your money. The investment sector offers a diverse range of choices now from stocks to currency, peer-to-peer lending, fine wine and beyond. In case this sounds a bit boring to you, there is a wide range of weird but highest-performing investments like lean hogs, rare coins, and private number plates which also could be seen as a smart investment. Making the right call on which sector to invest in can really make the difference in seeing a good return.

How can you choose which sector to put money into?

Whether you are an established entrepreneur or just getting a new start-up together, finding advice on where to invest is wise. Check out the below tips for some things to think about:

• Passion is key – probably the best tip is to invest in a sector that you are passionate about or that you have an interest in. This will make investing more fun and mean that you put the required time into making investment decisions along with managing your portfolio. Investing in something that you know about is also recommended as it gives you the background knowledge to succeed.

• Starting capital – the amount of money that you have to invest will have a bearing on choosing where you will invest. If you have $5,000, for example, then classic cars are probably out of reach for now! However, there are many other markets that you could get into instead, such as stocks or currency.

• Consider your personal needs – one important point to know about investing money is that different sectors work on different time frames. Stocks, for example, are generally best held for longer periods to smooth out any market fluctuations. You need to work out how soon you need your money back and choose the right market that fits with this.

• Research market performance – when choosing which market to invest in, you also need to check how well the market normally performs and the sentiment around it for the future. Fine wine, for example, has a great track record of being among the best-returning investment classes of the last 20 years.

Keep up with market news

Whatever market you choose to put your money into, keeping up to date with the latest financial market news is key. This will tell you about reports coming out that may affect your portfolio, the latest market moves, and how any individual companies that you have invested in may be faring. You should always be committed to staying on top of this week's financial events to make sure that you profit in the long term.

Choose the best market for you

One other factor in choosing where to invest as an entrepreneur is selecting what works for you. Investing is a personal thing, whether you handle it yourself or via a managed fund, and this means that where you invest must resonate within you. By doing so, you will be able to use your investment journey as a springboard for future success.