Think tanks in the former Soviet bloc face the stark challenge of sustainability. To survive and prosper, they have to be increasingly entrepreneurial and business-like and have to actively seek contracts from government and the international donor community. In this context, this paper discusses the diversification strategies of four think tanks identified to be particularly entrepreneurial in developing new lines of work. This includes commercial activities similar to those of consulting firms, and tapping the business community for donations by offering seminars or other products. The paper reviews how these institutions identified and assessed various opportunities, and how they promoted a new line of work. It also explores the rewards—financial and other—and the challenges that are created by the new types of work within the organizations.