Shadow ministers have been encouraged to look for "points of agreement" with the party and to consider constitutional reforms that would appeal.
Faced with mounting debts, the party may be forced to leave government in order to reclaim the "short money" provided to opposition parties.
The £520,000 bequeathed by Joan Edwards was intended for "whichever Government is in office", so how did it end up in the coalition parties' coffers?
The Lib Dems (and students) would immediately feel better if tuition fees were renamed as a 'capped graduate tax'.
Party membership has fallen by 35% since 2010 to 42,501, resulting in a deficit of £411,000.
The wage subsidy scheme that Clegg promised would create 160,000 jobs delivered just 2.6% of that total in its first year.
It is no longer unthinkable that one or both of Labour and the Lib Dems could go into the next election pledging to scrap the project.
While Clegg remains determined to drag the Lib Dems to the centre ground, the left of the party wants a divorce from Osbornomics.
To recover from the longest crisis of living standards in memory, we must address fundamental questions around ownership and democracy.
The party's membership has risen by a remarkable 8,500 since March.