Purpose – The purpose of this paper is to explain how tactical choices create value within a business model of a small company in the fashion outlet industry. Design/methodology/approach – The generic two-staged competitive process framework from Casadesus-Masanell is used to analyze the fashion retailer MyFashionOutlet. Findings – This paper argues that tactical choices made within a business model have a positive effect on the revenue of this company. Originality/value – As to practice, the findings provide better insights into the levers of change within a constant business model. For academics, the authors provide guidelines for applying the framework to future research and identify potential limitations of the use.