The continuous testing and redesign of current business models and the associated adaptation of increasinglycustomized value propositions are nowadays becoming more and more important for companies. Therebythe additional or integrated offering of services as new forms of hybrid value creation are gaining importance.Small and medium-sized enterprises (SMEs) in particular are still at the beginning of the challenge ofsuccessfully designing the transformation to offer product service systems (PSS), as they often lack time,technical and methodological resources. This paper first describes the derived requirements for a processmodel of PSS-oriented business model development for SMEs. The requirements result on the one handfrom the research of current scientific publications on this topic and on the other hand from the analysis andevaluation of use cases from practice at SMEs. This is followed by an overview of current process modelsthat deal with business model development and innovation. The identified process models are analyzed interms of the considered phases, the used methods, and the industries of the potential users. Furthermore, theyare examined for SME suitability on the basis of the derived requirements. By means of the comparison ofthe current process models and the requirements from the SMEs the necessity of an adaption and furtherdetailing of the individual phases of the process models is pointed out. SMEs have to be able to apply thesemodels independently. Finally, the article presents an initial approach specifying the development phase ofPSS-oriented business models by means of detailed planning with a focus on the mechanical and plantengineering sector to support the users.