A configurational approach in business model design

Although business models are an important source for competitive advantage, little research exists on the relationship between business model design and financial performance. Whereas existing studies focus on the isolated analysis of singular design themes, this work introduces a set-theoretic approach, investigating interdependencies of complementarity, efficiency, novelty, and lock-in-based business models. Thereby, this study applies a qualitative comparative analysis to a unique data set of 41 entrepreneurial firms. The empirical results demonstrate the role of three unknown specific business model configurations fostering financial performance. Introducing a configurational perspective to the business model discussion the study proves equifinality in business model design and advances theory concerning interdependencies within the business model construct.