A business model is a company plan or a diagram which shows how the company competes on the market, how it uses its resources, structures its terms, develops customer networks and develops values which will enable profit making. The fundamental goal of business model creation techniques is to change the business model of the business entity, as well as developing new values. The thesis is divided in eight chapters. First chapter of the thesis includes the work topic, the second involves all the information and general theory of a business model while in the third chapter the term of a business model canvas and all of its components are defined. Furthermore, forth chapter refers on the business model pattern and the processing of its components. The next chapter defines business model creation techniques as well as their use. The sixth chapter includes information on the use of business model innovations. Afterwards, in the seventh chapter the innovation of business models is being shown by using the blue ocean strategy and ultimately, the thesis ends with a conclusion. The goal of this thesis is to ultimately, while using methodology of the business model canvas and techniques of creative thinking, explain the process of making new business models in the environment in which they occur in harmony with the global world trends.