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The most admired business models on Wall Street are companies which manage to earn recurring revenues and earnings from offering SaaS (software as a service).
There are good reasons for the often sky-high valuations for SaaS businesses as it is a business model with many avenues to add revenue streams, here is a little summing up of a framework we have been using:
Get a foot into the door with a killer app, something at which the company is good at that fulfills a real business need.
Convert license clients into recurring revenues via SaaS