Companies today face volatie environments, short product life cycles, and changing customer requirements, which is especially the case in high-technology filds. In such environments, concentratig only on technological and product innovatins is not suffient to gain competiie advantages. Instead, companies need innovatie business models in order to stand out from their competiors. To successfully change business models, companies require appropriate competencies. Thus, the objectie of this research is to identiy how companies can prepare their business model(s) to counteract environmental changes flxibly. With the aid of the chosen exploratory, qualitatie research design, we investiate companies operatig in hightechnology branches. In total, 20 companies partiipated in our study. The interviews were conducted with CEOs, vice-presidents, product managers or other managers responsible for business model developments. The research revealed that companies can prepare the business model and its elements ex ante through developing capabilitis in order to raise the flxibility of the business model. These capabilitis have to be developed with regard to several internal and external issues driving these changes.