In recent years, the notion of business models has been able to innovate the way companies create new business opportunities. However, because business models most often rest on a complex interplay of several actors, there is a need to be able to explore the nature of a business model.This paper will propose to describe a business model by means of storytelling. Also, the paper will introduce the notion of archetypes of business models with the aim to seek a pattern in the light of the numerous business models available. Two cases will illustrate and discuss storytelling and archetypes, giving rise to conclude that they represent a valuable approach to understanding and innovating business models.