As leading operators prepare for 5G commercial launches, a global consensus is forming around how to think about 5G and the business opportunities it presents to mobile (and converged) operators. 5G strategies center on future proofing, flexibility and as a platform for future innovation but what is the ROI? Many key questions remain around the business models, consumer (subsidies) and enterprise acceptance and willingness to pay, compelling use cases and the level if any of first mover advantages versus opportunity costs. This report outlines key questions which service providers and their equipment vendors need to do a better job in answering.