This study explores business modeling through a sensemaking perspective that mobilizes a strong approach of processes. This perspective allows to renew our understanding of the interplay between cognition and action in business modeling. Based on a 42-month long single case study of a new business model development in a consulting company, we identify seven business modeling sensemaking mechanisms that form four patterns. This study contributes to better understanding the very early steps of business modeling, stressing the role of interaction in this process, and proposes a re-articulation of business model and tactics levels.
