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The current research on Business Models (BMs) in servitization tends to focus on either identifying the key components of relevant BMs or examining the challenges of introducing such BMs. The creation of a BM is not a discrete event, but the result of a long-term continuous refinement effort. Redirecting the servitization research from concentrating on successful service-focused BMs to focusing on the process of developing such models is critical for servitization theory and practice. This paper, therefore, sets out to shed light on the development and refinement of the service-focused BMs in the manufacturing context.