Based on a longitudinal, ethnographic study of an innovative organization, we unpack creative micro-processes facilitating business model innovation (BMI). Our results suggest reflective inquiry (drawing on past and present) and prospective inquiry (to create the future) to facilitate the emergence and implementation of business models that are novel and useful. Furthermore, four ambidextrous interactions help to balance opposing process demands to ensure effective BMI. In addition to enhancing microfoundational understanding of creativity in BMI, this study offers a dynamic perspective on BMI and proposes interaction to complement the conventional BMI pillars of cognition and action.