Abstract:This paper examines the experiences of veteran small business owners and their efforts to innovate their business models during the COVID-19 pandemic. The study, framed within the Resource-Based View (RBV) of the firm, employed a generic qualitative inquiry (GQI) to investigate the perspectives of veteran small business owners and their experiences with Business Model Innovation (BMI) during the pandemic period, from March 2020 to May 2023. The sample consisted of ten veteran small business owners who successfully maintained their respective organizations' operations throughout the pandemic. Participants were selected through a combination of purposive sampling and snowball sampling to ensure group diversity. A thematic analysis of the data identified four primary themes: a) business model innovation and resilience, b) veteran leadership and networking, c) market and workforce transformation, and d) strategic agility. These themes underscore the critical nature of BMI, its integral role in an organization’s overall strategy, and its viability as a survival mechanism that can be leveraged to grow a competitive advantage in times of crisis. The results provide a basis for additional studies on the implications of BMI in SMEs and the connections between strategic agility, resource configuration, and dynamic capabilities.