A successful merger takes time and money to put into motion. Six to 12 months is the norm. And when you start paying lawyers, accountants and facilitators, it can be quite expensive. Accordingly, there must be commitment.

The larger the number of participants, the more complicated the process becomes. You will require a good accountant, lawyer, maybe a business analyst qualified to value professional practices and depending on the number of prospective partners, perhaps a facilitator to get everyone to agree and tie it all together. They are all expensive. Don’t rush into it. Many potentially successful mergers do not happen because the participants lack sufficient guidance to plow through and resolve the many decisions that must be made or feel that the uncertain result is not worth the upfront cost. If there are more than two potential merger partners, do not be too disappointed if some of them fall out along the way.