The traditional one-size-fits-all business model in the communications sector is breaking down. New ways to do business are emerging, and as a result, vendor strategists in telcos have hard choices to make as they break out of the unsustainable status quo. Four operating business models will exist in the future: 1) vertically integrated; 2) partnership-based; 3) horizontal; and 4) disaggregated models. Vendor strategists must piece together a strategy to take the telco forward and choose which of the four best suits their company. We recommend 10 actions to do so.