The changing landscape in higher education is increasingly forcing institutions to examine their long-standing business models and to start making changes. Leading those changes and overcoming internal resistance to them will require strong oversight from governing boards. What might an institution's review of its business model actually look like? In this article the author presents three actual examples from different sectors of higher education. The author also discusses a framework for thinking about business models and structuring a business model review. (Contains 1 figure and 4 tables.)