This chapter explores the transformative potential of circular business models, focusing on Resource Sharing and Product-as a-Service (PaaS). These models represent a shift from traditional linear approaches to a more sustainable, resource-efficient economy. The chapter examines key enablers such as technological advancements, regulatory frameworks, and evolving consumer behavior, while also addressing the challenges and risks associated with implementing circular practices. Strategic recommendations are provided to help businesses navigate operational complexities, financial barriers, and market dynamics. The future outlook highlights opportunities for innovation and growth within circular ecosystems, emphasizing the need for collaboration and adaptability. By embracing circular business models, companies can contribute to sustainability goals, enhance resource efficiency, and build a competitive edge in the evolving market landscape.