Mobile communication technology is advancing forward to deliver more connected devices and richer content and applications. The number of subscriptions continues to grow along with an explosive increase in the mobile data traffic demand. Thereby, it creates a significant network capacity shortage concerns for mobile network operators. In order to address this problem, it is essential to increase the network capacity at a low additional cost. The device-to-device (D2D) communication based proximity service is believed to have a promising future mobile communication technology that is capable to create new mobile service opportunities and offload traffic to the eNB. In addition, it is also required to develop new mobile communication services and its business models not only to accommodate the increasing mobile traffic demand but also to foster profitability of mobile business service providers such as the network providers, contents providers and platform providers. In this article, we first analyze current mobile business eco-system in the context of CPNT based value chain. Then, propose service development framework and business model creation methodologies for the device-to-device communication based services in the beyond LTE/LTE-Advanced systems.