The paper provides a new framework for visualizing business models, guided by well-shaped visualization based on hypergraph technology, specifically, mind mapping. Our approach presents the future evolution of Ostervalder‘s ideas. To evaluate the efficiency of the proposed framework we conducted a pilot study involving in experiment with 22 experienced top-managers of Russian companies and examined their perception of three business models description approaches involving linear text, Canvas business model by Alexander, and business model mind mapping template. Results reveal that the developed business mind mapping visualization framework can be considered as cognitive scaffolds and is positively associated with improved perception and understanding of the business model by managers allowing them to communicate, share and manipulate business model knowledge easily.