The term "new business model" has an enticing ring to it, as it refers to a new and supposedly better way of making money. Ryanair, McDonald’s, IKEA and Amazon are examples that come to mind immediately. Admirable as these may be, they are also so extraordinary that they provide little guidance to executives on how to establish new ways of making money within their own industry, company or business unit. In this article, the authors explain how to go about new business model thinking in practice, using plain and simple examples.