Small satellites, especially picosatellites, appear poised to play an important role in the future of space systems. Due to their size, however, integrating them with high-throughput laser-based communication systems remains a challenge. In this paper, we develop several analytical models that quantify how optical communication networks can be implemented with picosatellites. We do so with the goal of identifying design challenges that need to be addressed if picosatellites and optical communication systems are indeed to be a standard part of the future space technological landscape.