This white paper describes approaches to business modelling in the context of 5G and beyond 5G ecosystems. It first explains how the disaggregated and modular 5G and beyond 5G technologies enable a dynamic business ecosystem with a higher number of interdependent actor roles, actors, and business relationships. This leads to the challenge to identify and design sustainable business models in a highly dynamic and complex business environment. The white paper proposes a methodology composed of five steps for how to carry out business modelling, catering for the perspectives of all actors. The approach described in this white paper embraces existing insight from different analytic approaches such as the concepts of ecosystems, value networks, business and sustainability model canvassing, and the application thereof in many recent 5G projects. The projects, represented by their experts, serve as a source for inspiration and validate our stepwise model. In addition, contributors to the white paper have willingly shared insights from approaches they apply in their respective organizations. Finally, we present systematically how their business modelling is aligned with the five steps in our suggested approach.