Eight out of ten businesses fail within their first 18 months. The statistic suggests entrepreneurs need to do more planning before they pour tens of thousands of dollars - or millions of dollars - into a business endeavor. 

A lack of planning isn't just plaguing start-ups: even well established businesses have also neglected to financially plan for the future, which can leave them at a competitive disadvantage. 

When it comes to owning and operating a business, there are many aspects that go into planning to succeed, such as budgeting, investing in technology, taking advantage of the newest types of marketing and so on.

Is It Time to Grow or Remain Complacent?

Every business has different needs. Every business owner has a unique skillset. In some instances, it is better for the business owner to finish work by himself. In other situations, the business owner may make a better decision by hiring an additional employee or outsourcing the work at hand. 

Today, modern businesses must utilize modern technology. Whether it's cloud computing, data analytics, greater hard drives, social media marketing or simply new computers, the only way for enterprises to stay afloat and remain competitive is to enter the 21st century and use some of the many technological innovations available. 

Unfortunately, many business owners are so focused on minding the budget that they may avoid spending the money and investing in new technologies, personnel or brick-and-mortar upgrades. This can seriously place any business - small, medium or large - at a competitive disadvantage. 

There is no doubt that staying competitive is what allows any business to continue to generate sales, increase revenues and boost the overall bottom line. When business finances are tight, it can be difficult to move forward with these investments. 

Perform an Introspection

Before you start spending the cash reserves you have on hand, or using money from financial institutions, Behalf.com recommends that you ask yourself these five questions beforehand: 

• How long have you been in business?

• How can I turn this into more money?

• What can I do to make my business run smoother?

• How can I invest in my customers?

• What am I lacking?

It's always important to maintain a budget and to limit expenses. But you also have to plan for future growth, produce a financial roadmap and understand the facts behind your company. 

A Cash Advance Gives Your Business a Competitive Edge

A cash advance is an alternative funding solution that can be used to move your business in the right direction. A cash advance for business is a fast, easy and affordable funding tool that can cover short-term expenditures, pay for much needed repairs or expand the business to make it a feasible long-term brand. 

Quikstone Capital Solutions is a financial services firm that offers funding solutions for small- and medium-sized businesses that need money but prefer not to participate in the traditional banking market. A merchant cash advance can assist in putting your plans into action while helping your business gain a competitive edge. 

Browse the Quikstone Capital Solutions website and apply for a cash advance today. By doing so, you can garner a tremendous amount of momentum for your business and stay ahead of the competition.