This book contains the extended and revised versions of eight of the ten full papers (out of 58 submissions) presented at the First International Symposium on Business Modeling and Software Design (BMSD 2011), held in Sofia, Bulgaria.The theme of BMSD 2011 was "Business Models and Advanced Software Systems, " and the related scientific areas of interest were: business models and requirements, business models and services, business models and software, and information systems architecture.