Technological changes related to Industry 4.0 generate new potentials. Hence, it is important to understand which dimensions of a business model to adapt. Industry 4.0 technologies enable a company to offer new products, new services or to achieve efficiency improvements. The Industry 4.0 business model decomposition allows visualising which goal the initiative has, what the value offering is and which processes, technologies and capabilities are needed. As connectivity is a key dimension of Industry 4.0, technologies and systems are needed to connect internal and external processes.