One of the key steps to develop an e-business solution is the definition of a Business Model (BM), which requires the expertise from different areas such as finance, technology, marketing, and project management. It is known that Small and Medium Enterprises (SMEs) count with limited resources to undertake this type of e-business initiatives, and thus prompt to failure. This paper tells the story of the process of selection of a BM (and related documents) needed for the design and implementation of an undergoing dot-com initiative leaded by an SME in Mexico. The results of such study are summarized in a series of recommendations that SME may found useful when embarking in similar projects. Some key findings from these recommendations are: partnership with academic/research institutions, the key role of project management, communication, and identification of links between strategy and technology.