Successful business models have some shared attributes or features. The quality of the business model can be used to determine the feasibility and potential of the business model, which can help make decisions on how to invest and risk prevention. However, the business model is not static, but changes with external factors such as demand, competition, technology, macro policies, and internal factors such as business goals, strategies, and resources. Therefore, the requirements of the quality attributes of the business model at each stage are different. Dynamic evaluation of business model quality is essential for the development of any enterprises, but on the emerging issue, academic research has greatly lagged behind the needs of business practices. Fist in this paper, the generation and evolution of the business model is divided into four stages: blueprint design, practical modeling, application copying, and transformational change. Then, based on reviewing literature, seven key attributes of business model quality are identified, namely, uniqueness, complementary, novelty, certainty, scalability, win-win and matching degree. Thereafter, by using fuzzy-set qualitative comparative analysis (FsQCA), some configurations of key attributes of business model quality are identified, which are considered critical paths for the business success. Finally, the theory of dynamic evaluation of business model quality has been put forward and used to assess the sample business model.