In the second edition of this essential guide, Daniel R. A. Schallmo explains the digital transformation of business models, illustrated through three examples. The first edition has been revised and supplemented with a significant point: the contextualization of the digital transformation of business models within the broader framework of digitization. Furthermore, the author presents existing approaches to digital transformation and develops a roadmap based on this, which includes a five-phase process. New opportunities for networking and cooperation among different stakeholders can be opened up, allowing for data exchange and thereby initiating processes. In this context, the digital transformation of business models plays a particularly important role, as business models contain various elements that can be digitally transformed.