Research focusing on business model innovation tends to either be case-based, studying the transformation of a firm’s business model, or normative in terms of how to implement new business models. Prior research has tended to neglect the various choices and decisions of the organization for business model innovation and the mechanisms that lead to good or poor business model implementation performance. This paper identifies mechanisms that influence the performance of the business model innovation process. Empirically, the paper draws on two case studies of two multinational firms, Skanska and IKEA, and how they organized their business model innovation processes. The paper identifies four mechanisms, including search, leadership, commitment, and external collaboration, derived from within-case and cross-case analysis. The paper contributes to the growing field of business model innovation by showing important mechanisms that influence the potential and performance of the implemented business model innovations.