Successful business people give a lot to get where they are. They've sacrificed blood, sweat and tears; stretched friendships; and tested the patience of partners and families; in order to make their business a profitable and pride-worthy one.

However, smart business people need to also be thinking ahead to a time when they are no longer running their business, and ensure they've got an exit strategy in place so that their hard work can lead to maximum returns when it's time to move on. It's no good building a business worth a fortune if you can't get your hands on that fortune down the road.

Selling a business - or otherwise disposing of one - is something that requires sound planning. Do not leave your exit strategy as a bridge that you'll cross when you come to it.

Some of the reasons for stepping away from your business include retirement, or dissolution of a partnership. Perhaps you've built your business up to the maximum possible point - and it's time to hand over the reins to another entrepreneur who can look at it with fresh eyes and take it into a new direction. Or, perhaps you've simply lost the spark for this particular project, and it's time to move onto a new venture.

Your decision to step away from your company may be many-a-year away, however planning an Exit Strategy well in advance will give you time to make sure you do it right. Bearing your Exit Strategy in mind and making strategic business decisions in the meantime can also help to maximise your profits when the time comes to shut up shop.