I started a company a few years ago -- http://smartexperience.org/ -- and over time tried two different business models. The first was a leaner version of University continuing education, and the second was education via online video.
I've hit the Pause button on that business to pursue another opportunity, but looking back I can't tell if the business models didn't work, or if they weren't implemented well. For example, a great business model may not work without sufficient investment. And that investment may need to be allocated well. In my case we may have just needed a big marketing budget to gain momentum, but I'm not sure.
Do you have any way to evaluate the performance of a business model vs. its implementation?
Victor, those two things are VERY difficult to distinguish. Personally, I haven't yet done very much research in that area - not much exists yet.
Since you are an experienced design I assume you have done a lot of field testing with users/customers to check out how they felt about the business model (or at least the value proposition/channels/pricing part).
Would be interesting to further analyze your case!