American colleges and universities have weathered severe storms throughout their history. Wartime pressure, civil unrest, demographic shifts and economic downturns have resulted in everything from a suspension of activities to temporary and sometime permanent college closings. With major demographic shifts already upon us and more to come, colleagues have recently written in this and other higher education publications about the challenges faced by many colleges to enroll new students. They predict, as we do, even tougher times ahead. For those of us who have been responsible for enrollment and net revenue, it is natural to think about what our institutions must do to survive and thrive.