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It depends on the situation. For an example, If the product has demand but quality is not satisfactory then go for reinvestment and try to improve the quality of products. On the other hand, if the product is innovative then go for new business.
Let me differentiate between the (1) methodology and the (2) tools involved in business modeling. For me specifically, I have my own self-developed/copyright protected methodology which relies on a10-element technique that I call (MV-BMD) short for Millennia-Vision, Business Model descriptors. As regarding the tools, I am very flexible and may use online collaboration tools if my counterparts are in separate physical locations. I may also use quite advanced/sohphisticed software tools subject to the desire and preference of the client.
