The transformation of business models from product-centric to service-centric is complex. It requires careful consideration of various factors related to assessing the economic environment in which the entrepreneur operates, the behaviour of direct competitors, and the demands and preferences of customers from both current and future perspectives. Additionally, it is important to account for intra-organisational capabilities necessary for executing the transformation process. These capabilities should be reflected in multiple facets of the entrepreneur’s internal organisation and formally confirmed in business models that align with the entrepreneur’s current strategy. Furthermore, they should be evident in the entrepreneur’s resources as well as those obtained through collaboration with third parties. This chapter examines the causes, goals, and effects of transforming business models toward economic activity based on service provision. These issues are discussed from the perspective of key concepts related to the transformation process of business models, emphasising the need for their conceptualisation.