ABSTRACT The way the Internet has connected millions of users at negligible costs has changed playing field for companies. Several stakeholders can now come together in virtual networks to create innovative business models that would be unfeasible in the physical world. However, the more radical the departure from the established models of value creation, the bigger the complexity in ensuring the sustained interest of the involved parties and the stability of the bonds. To address this problem, we sought inspiration in the Actor-Network Theory (ANT), which is capable of providing insights into socio-technical settings where human and non-human agents interact. We describe how several of its principles, ideas, and concepts were adapted and embedded in our approach for complex business model design or analysis. A simple illustration is provided. Our iterative approach helps systematically scrutinize and tune the contributions and returns of the various actors, ensuring that all end up with an attractive value proposal, thus promoting the robustness of the network. Guidelines for the services that an underlying information system must provide are also derived from the results.