Cost Reduction for Managers & Management Consultants
4.3 (38 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
1,417 students enrolled

Cost Reduction for Managers & Management Consultants

Practical guide how to cut costs in business & in private life. Learn how efficiently to conduct cost cutting projects
4.3 (38 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
1,417 students enrolled
Created by Asen Gyczew
Last updated 6/2020
English
English [Auto]
Current price: $113.99 Original price: $189.99 Discount: 40% off
2 days left at this price!
30-Day Money-Back Guarantee
This course includes
  • 7.5 hours on-demand video
  • 2 articles
  • 49 downloadable resources
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
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What you'll learn
  • How to conduct a Cost Reduction Projects
  • Identify quick wins when it comes to savings, cost cutting
  • Apply the right frameworks and techniques from your management consulting toolbox
  • Analyze investments in Excel
  • Conduct make-or-buy analysis in practice
  • Analyze in Excel potential improvements in Retail, FMCG on the level of McKinsey, BCG, Bain
  • Find ways to cut cost of the business you manage
Requirements
  • Basic or intermediate Excel
  • Basic knowledge of economics or finance
Description

What is the aim of this course?

Every company has to control costs in order to survive and prosper. Therefore, many firms on regular basis perform cost reduction projects. Cost reduction project may be part of a wider Performance Improvement Project or be a standalone project carried out only in one of the business units. Those projects are extremely interesting because you will be able to make a real change, create a new reality and improve part of the business or even the whole business. There are also very difficult as you have to not only analyze areas but also find ways to cut costs, improve the current situation as well as, on some occasions, implement the change. The skills that you will learn during this sort of projects will be also very useful once you move to work for regular businesses or set-up your own firm. In this course I will show you how to deliver such projects fast and efficiently. In the course you will learn the following things:

  1. How to identify potential savings especially quick wins

  2. How to optimize processes

  3. How to analyze investments

  4. How to carry out make-or-buy analysis

  5. How to spend less

This course is based on my 15 years of experience as a consultant in top consulting firms and as a Board Member responsible for strategy, performance improvement and turn-arounds in biggest firms from Retail, FMCG, SMG, B2B and services sectors that I worked for. I have carried or supervised over 90 different performance improvement projects in different industries that generated in total 2 billion of additional EBITDA. On the basis of what you will find in this course I have trained in person over 100 consultants, business analysts and managers who now are Partners in PE and VC funds, Investment Directors and Business Analysts in PE and VC, Operational Directors, COO, CRO, CEO, Directors in Consulting Companies, Board Members etc. On top of that my courses on Udemy were already taken by more than 60 000 students including people working in EY, Walmart, Booz Allen Hamilton, Alvarez & Marsal, PwC, Dell, Walgreens, Orange and many others

I teach through case studies, so you will have a lot of lectures showing examples of analyses, tools that we use. To every lecture you will find attached (in additional resources) the Excels as well as additional presentations, materials shown in the lectures so as a part of this course you will also get a library of ready-made analyses that can, with certain modification, be applied by you or your team in your work.

Why I decided to create this course?

As a manager quite often you will have to find ways to spend less, reduce costs. This is not an easy task as you will have to increase efficiency and quality at the same time. Luckily, there are a lot of techniques that will help you in a structured way look for savings that will help you improve the profits of your business. In this course I will teach you how to find potential savings, estimate them in Excel and how to make sure that they don’t impact quality or efficiency. We will use for that management consulting tools, techniques and frameworks from top management consulting firms.

This course will help you become an expert in the field cost cutting, cost reduction which will be extremely useful not only in consulting but also later on when you become director or you move on to build your own business. By giving you exposure to real life cases and analyses I want to improve your skills in analyzing the right things fast and implementing the improvements that you have identified. Thanks to this course, you will know what and how to do during a cost cutting projects to deliver ahead of deadlines high quality products.

To sum it up, the course will help you become an expert in cost reduction, cost-cutting on the level of McKinsey, BCG, Bain, PwC, Deloitte, EY and other top consulting firms. That is why, I highly recommend this course to Managers, Management Consultants as well as Investment Directors working for PE, Directors, owners / founders of businesses that need better to improve their profitability and prepare for scaling.


In what way will you benefit from this course?

The course is a practical, step by step guide loaded with tones of analyses, tricks, hints that will significantly improve the speed with which you understand, analyze the business considered for acquisition. There is little theory – mainly examples, a lot of tips from my own experience as well as other notable examples worth mentioning. Our intention is that thanks to the course you will learn:

  1. How to identify potential savings especially quick wins

  2. How to optimize processes

  3. How to analyze investments

  4. How to carry out make-or-buy analysis

  5. How to spend less

You can also ask me any question either through the discussion field or by messaging me directly.


How the course is organized?

The course is divided currently in 8 sections. Currently you will find the following sections:

  • Introduction. We begin with little intro into the course as well as some general info how the course is organized

  • Cost reduction frameworks. In the second section I will show you the main frameworks that will help you with cost reduction. We will have a look at the general framework. I will also show you the adjustments for FMCG and retail. Frameworks are great because they help you see the big picture. They also provide you with guidance what to do to achieve your goals

  • Quick wins. In this section I will show you how to identify the so called quick wins – in other words big savings that you can easily achieve, implement. We will start with 2 general frameworks (80/20 and low hanging fruits) and I will show you how we can apply it to finding the projects that will generate big savings.

  • Process optimization in practice – Retail chain example. In the 4th section I show you how to reduce cost of process in practice. For that I will use an example of processes in a store. You will see how you should calculate the cost of the processes and what techniques you should apply to optimize processes and achieve cost reduction, savings.

  • Make-or-buy analysis. In the 5th section we will discuss Make-or-buy analysis. You will be carrying them out after you have implemented the quick wins. They will help you find ways to further reduce costs. Make-or-buy analysis is extremely important tool that will help you decide in a rational way what you should do in-house and what to buy

  • Investment analyses. A lot of money can be saved by proper investment policy. In this section I will show you how to analyze in practice investments aiming at reducing costs

  • Reduce usage. In this section I will show you how you can cut costs by reducing the usage of certain things that you firm is using

  • Spend less. In the last section I will show you how to reduce your own private spending, expenditures. These examples will help you understand and implement the general approach to cost cutting. It will also help you reduce your own personal wealth


You will be able also to download many additional resources

  1. Useful frameworks and techniques

  2. List of resources useful during a performance improvement projects

  3. Selected analyses shown in the course

  4. Links to additional presentations, articles and movies

  5. Links to books worth reading


At the end of my course, students will be able to…

  • How to conduct a Cost Reduction Projects

  • Apply the right frameworks and techniques from your management consulting toolbox

  • Identify quick wins when it comes to savings

  • Analyze investments in Excel

  • Conduct make-or-buy analysis in practice

  • Analyze in Excel potential improvements in Retail, FMCG on the level of McKinsey, BCG, Bain

  • Manage efficiently a consulting project devoted to performance improvement

  • Find ways to cut cost of the business you manage

Who should take this course? Who should not?

  • Managers who want to increase the profitability of their business

  • Manager you want to reduce costs

  • Owners of small and mid-sized businesses

  • Management Consultants and Business Analysts

  • Investment Directors

  • Financial Controllers


What will students need to know or do before starting this course?

  • Basic or intermediate Excel

  • Basic knowledge of economics or finance

Who this course is for:
  • Managers who want to increase the profitability of their business
  • Manager you want to reduce costs, cut costs
  • Owners of small and mid-sized businesses
  • Management Consultants and Business Analysts
  • Investment Directors
  • Financial Controllers
Course content
Expand all 187 lectures 07:32:40
+ Introduction
5 lectures 09:48

We begin with little intro into the course as well as some general info how the course is organized

Preview 02:30

A few words about your humble teacher

Preview 01:47

Here I will show you how the course is organized and how you can make the most out of it

How this course will be organized?
02:22

Here I will show you what to do if a blurry image appears

Preview 02:04

Here I will show you how to find additional resources attached to the coruse like Excel files, presentations, links etc.

Preview 01:05
+ Cost reduction frameworks
9 lectures 25:36

In the second section I will show you the main frameworks that will help you with cost reduction. We will have a look at the general framework. I will also show you the adjustments for FMCG and retail. Frameworks are great because they help you see the big picture. They also provide you with guidance what to do to achieve your goals

Cost reduction frameworks – Introduction
01:28

Here I will show you the general framework for decreasing the costs in retail

Preview 03:01

Here I will show you the general framework for increasing the margin in retail

Increasing margins framework – Retail & B2C Services
03:14

Imagine that you are working for a cosmetics producers. And you have to increase his profitability   

Preview 00:52

In this lecture we will solve the previously introduced case study

Preview 04:27

In this lecture we will solve the previously introduced case study

How to increase the profitability for cosmetics producer – Cost Reduction
03:32

Imagine that you are working for a fashion discounter that operates a retail chain in Easter Europe . In this lecture we will find ways to increase the profitability

How to increase the profitability of a retail chain – Problem
01:36

In this lecture we will solve the previously introduced case study

How to increase the profitability of a retail chain – Solution – Sales Increase
03:17

In this lecture we will solve the previously introduced case study

How to increase the profitability of a retail chain – Solution – Cost Reduction
04:09
+ Quick wins
10 lectures 23:57

In this section I will show you how to identify the so called quick wins – in other words big savings that you can easily achieve, implement. We will start with 2 general frameworks (80/20 and low hanging fruits) and I will show you how we can apply it to finding the projects that will generate big savings

Preview 00:59

In this lecture I will show you how to use in practice 80/20 rule also known as Pareto principal

Preview 02:51

In this lecture we will talk briefly about applying the low hanging fruits in practice. I will show you the principles of using it as well as a practical example

Preview 02:27

Let’s look how the quick win framework looks for savings. We will look at 2 dimensions:

  • What is the potential savings we can achieve

  • How easy it is to implement it?

We will have thanks to 4 categories of projects that we can consider:

  • Cow savings – easy to kill and big

  • Elephant – difficult to catch yet big

  • Chicken savings – easy to kill yet you need to kill a lot of them not to be hungry

  • Bat savings – small and difficult to catch

Preview 02:49

Remember that the potential reduction in costs depends on 2 elements: potential percentage cost reduction and the cost starting point:

  • Potential % cost reduction

  • Cost starting point

We will discuss this in this lecture

Preview 01:21

Imagine that you have to identify quick wins in cost reduction for an international chain of drugstores. We know their cost structure

  • A few information about the firm that we will be analyzing

  • They have 4 000 stores

  • We have their cost structure

  • They have send us a list of projects that will help them reduce costs

  • Estimate the potential and group them using the quick wins framework

Preview 00:57

In this lecture we will solve the previously introduced case

Preview 02:59

In this lecture we will solve the previously introduced case

Preview 03:06

In this lecture we will solve the previously introduced case

Preview 02:39

There are some ways to estimate the potential reduction in costs

  • Get benchmarks

  • Carry out 1-day audit

  • Measure a sample

  • Ask experts

  • Ask suppliers of tools / IT solution / machines

  • Organize auction / tender

  • Do a consulting project with a consulting firm

Preview 03:49
+ Process optimization in practice – Retail chain example
26 lectures 01:09:17

In the 4th section I show you how to reduce cost of process in practice. For that I will use an example of processes in a store. You will see how you should calculate the cost of the processes and what techniques you should apply to optimize processes and achieve cost reduction, savings.

Preview 01:01

I show you how to optimize processes in the store. I will use here real case of a company from home improvement / DIY sector. You will get also the model we used to calculate costs

Preview 04:26

Workshop was very important as I was getting a team that I did not know and that did not trust me. On top of that they did not know how to optimize processes. I will show you in this sections what were the goals of the workshop 

Workshop - Introduction
02:09

In this section you will see what kind of goals were presented to the project team

Workshop – the scope of the project
03:01

The team had no previous experience in process optimization. In this section I will show you the techniques  that we were using to optimize the processes 

Workshop – Tools overview
02:07

Here you will find a short introduction to Lean manufacturing.  

Lean manufacturing - introduction
04:56

Here you will find a short introduction to theory of constraints 

Theory of constraints - introduction
03:14

Here you will find a short introduction to Queuing problem 

Queing problem - Introduction
03:34

Here you will find a short introduction to OEE  OEE stands for Overall Equipment Efficiency and is used to check how much of the time of the machine is used wisely

OEE introduction
03:10

Here I will show you how in groups for chosen process the team has chosen the KPIs and cost drivers 

Workshop – defining metrics and cost drivers
02:13

In this lecture I will show you an example of 1 process that was optimized with the team. I used this to show them the proper way of defining the KPIs, cost drivers and optimizing the process using this data

Workshop – optimizing 1 process
02:34

In this lecture I will show you an example of 1 process that was optimized with the team. I used this to show them the proper way of defining the KPIs, cost drivers and optimizing the process using this data

Workshop – optimizing 1 process - Excel file
02:17

Finally, during the workshop I show them the timeline of the project to get confirm that the project is doable within this ambitions timeline 

Workshop – timeline of the project
01:21

In this lecture I will show you some information on what we achieved during the process optimization and how the test store looked like

The store and the processes
01:24

Here I will show you how we optimized the process of changing prices in the store and what savings we managed to generate

Price Change
03:14

Here I will show you how we optimized the process of changing prices in the store and what savings we managed to generate

Price Change - calculation in Excel
02:24

Here I will show you how we optimized the process of shelf replenishment in the store and what savings we managed to generate

Preview 02:55

Here I will show you how we optimized the process of shelf replenishment in the store and what savings we managed to generate

Preview 02:23

Here I will show you how we optimized the process of advising customers in the store and what savings we managed to generate

Advising customers - Introduction
02:52

Here I will show you how we optimized the process of advising customers in the store and what savings we managed to generate

Advising customers - General solution
03:17

Here I will show you how we optimized the process of advising customers in the store and what savings we managed to generate

Advising customers - Details and results
03:43

Here I will show you how we optimized the process of advising customers in the store and what savings we managed to generate

Advising customers - Calculation in Excel
01:49

Here I will show you how we optimized the process at cash till and info point in the store and what savings we managed to generate

Cash till and info point
01:54

Here I will show you what other potential improvements we suggested in order to sell new projects

Other potential improvements
02:25

In this lecture I will show the estimation of cost

Process cost estimation by groups
02:03

In this lecture I will show the estimation of costs and savings achieved during the project

Summary of all costs and savings
02:51
+ Make-or-buy analysis
14 lectures 32:09
  • In the 5th section we will discuss Make-or-buy analysis. You will be carrying them out after you have implemented the quick wins. They will help you find ways to further reduce costs. Make-or-buy analysis is extremely important tool that will help you decide in a rational way what you should do in-house and what to buy

Preview 01:45

Here we will discuss a very useful concept that is used in business and should be also used when making serious long-term decisions the so called the total cost of ownership

Preview 02:43

Let’s imagine that you were to decided whether it makes more sense to buy a car or to use Uber

Preview 01:33

In this lecture I will show you the solution to previously introduced case study

Preview 04:08

In this lecture I will show you the solution to previously introduced case study

Preview 01:32

In this lecture I will show you the solution to previously introduced case study

Preview 01:39

Imagine that you have to analyze for a consulting firm whether it makes sense or not to produce online course devoted to Data Science. In this lecture I will show you a few information about the firm that we will use to pick the optimal solution

Make–or–buy courses – Case Introduction
01:37

In this lecture we will solve previously introduce case study. We will have a look at the make option

Make–or–buy courses – Make Option
03:51

In this lecture we will solve previously introduce case study. We will have a look at the buy option and we will compare make and buy options.

Make–or–buy courses – Buy Option
01:50

In this lecture we will solve previously introduce case study. We will have a look at the buy option and we will compare make and buy options.

Make–or–buy courses – Compariosn
02:40

In this lecture we will solve previously introduce case study. We will have a look at the buy option and we will compare make and buy options.

Make it or buy it – When to make even if it is more expensive
02:42

We are back to Maria. Using previous case study we will try to decide which activities she should delegate using the make-or-buy analysis.

Delegating some work to others – Case Introduction
01:25

In this lecture I will show you the solution to previously introduced case study

Delegating some work to others – Analysis of activities
02:57

In this lecture I will show you the solution to previously introduced case study

Delegating some work to others – Summary
01:47
+ Investment analyses
22 lectures 55:43

A lot of money can be saved by proper investment policy. In this section I will show you how to analyze in practice investments aiming at reducing costs

Preview 01:41

In the next lectures we will see how to calculate whether an investment that will help us save costs makes sense or not. This time around we will do it for a retailer and we will see whether investment in LED bulbs makes economic sense

Cost reduction Investment – Retail – Introduction
01:14

In this lecture we will solve previously introduced case study

Cost reduction Investment – Retail – Current Costs
04:08

In this lecture we will solve previously introduced case study

Cost reduction Investment – Retail – Future Costs
02:22

In this lecture we will solve previously introduced case study

Cost reduction Investment – Retail – NPV
02:50

In this lecture we will solve previously introduced case study

Cost reduction Investment – Retail – Solution in Power Point
01:29

In the next lectures we will see how to calculate whether an investment that will help us save costs makes sense or not. This time around we will do it for a ceramic tiles producer. We will see whether an invesment in robots makes sense

Cost reduction Investment – Ceramic Tiles – Introduction
01:30

In this lecture we will solve previously introduced case study

Cost reduction Investment – Ceramic Tiles – Current Costs
02:23

In this lecture we will solve previously introduced case study

Cost reduction Investment – Ceramic Tiles – Future Costs
02:41

In this lecture we will solve previously introduced case study

Cost reduction Investment – Ceramic Tiles – NPV
04:22

In this lecture we will solve previously introduced case study

Cost reduction Investment – Ceramic Tiles – Solution in Power Point
02:06

Let’s imagine that you have to decide which method to support sales reps that work for retailers will be the best one. Help you customer analyze which method is better. We will discuss what other methods are used by your competitors and what you should pay attention to in order to decide which methods is better

How to motivate not yours sales reps – Case Introduction
02:33

In this lecture I will show you the solution to previously introduced case study

How to motivate not yours sales reps – Trainings
04:58

In this lecture I will show you the solution to previously introduced case study

How to motivate not yours sales reps – Contests
02:17

In this lecture I will show you the solution to previously introduced case study

How to motivate not yours sales reps – Incentive trips
02:32

In this lecture I will show you the solution to previously introduced case study

How to motivate not yours sales reps – Loyalty program
02:19

In this lecture I will show you the solution to previously introduced case study

How to motivate not yours sales reps – Summary and Comparison in Excel
02:01

In this lecture I will show you the solution to previously introduced case study

How to motivate not yours sales reps – Solution in Power Point
02:26

Last way to boost your profits without scaling is to get rid of non-core assets. In this lecture we will discuss the general rules for identifying which assets should be sold

Sell non–core assets – Introduction
02:14

In the next 3 lectures I will show you how to sell non-core assets. We will use the case of cosmetics producer

Sell non–core assets – Cosmetics – Introduction
00:50

Here I will show you the solution to the previously introduced case

Sell non–core assets – Cosmetics – Solution for the Hotel
03:28

Here I will show you the solution to the previously introduced case

Sell non–core assets – Cosmetics – Solution for the Kindergarten
03:19
+ Reduce usage
11 lectures 23:12

In this section I will show you how you can cut costs by reducing the usage of certain things that you firm is using

Preview 01:08

Imagine that you are analyzing a newly bought company that is providing Data Science services. Your boss wants you to look at usage and decide what to reduce

A few information about the firm that we will be analyzing

  • The company has 500 Data Scientists

  • You got data on what Software and tools they use

  • Eliminate things they don’t use

Preview 01:01

In this lecture I will show you teh available for the case study data

Preview 02:58

In this lecture we will show you the solution to previously introduced case study

Preview 02:08

Now we will have a look at a cosmetics producer and we will try to measure how much they can save by using less. We will look at 3 areas of their activities

Below some information about the firm we will be analyzing

  • They want to minimize number of bottles they use

  • The are considering visiting less frequently customers

  • They want to move 2 offices into 1 bigger office

  • Check how much they can save

Use less – Cosmetics Producer – Case Introduction
01:31

In this lecture I will show you the available for the case study data

Use less – Cosmetics Producer – Available Data
02:29

In this lecture we will show you the solution to previously introduced case study

Use less – Cosmetics Producer – Solution in Excel
03:36

You were asked to help the drugstore chain find potential savings by introducing cheaper substitutes. You have picked 4 potential topics

A few information about the firm that we will be analyzing

  • They have 4 000 stores

  • They want you to analyze Head Office costs

  • In Head Office you have picked 3 topics: water, tea & coffee, paper

  • You have also decide to have a look at boxes they use for the e-commerce

Use cheaper substiute – Drugstore chain – Case Introduction
00:59

In this lecture I will show you the available for the case study data

Use cheaper substiute – Drugstore chain – Available Data
02:12

In this lecture we will show you the solution to previously introduced case study

Use cheaper substiute – Drugstore chain – HQ Analyses
02:47

In this lecture we will show you the solution to previously introduced case study

Use cheaper substiute – Drugstore chain – Boxes & Summary
02:23
+ Spend less
89 lectures 03:31:44

We are done with the main methods in which you can lower the costs. I hope you have enjoyed our framework as well as the case studies. We will be adding case studies to this course, but if you want us to cover specific problem you are currently facing, please let me know.

To make certain things more understandable when it comes to Cost Reduction we have decided to add to this course also a part of our course on Personal Finance. In this section I will show you how to cut costs, spend less in private life. This last section is not compulsory but I believe will help you understand certain things that may have seemed a bit abstract. The additional benefit is that you may be able to save some money. We have applied here similar framework that we have used for the firms, so most of the things we show here can be used also in firms as well.

Before you move to explore this section if you have any questions, request regarding Cost Reduction projects please let me know. I am always happy to help with whatever I can. We have done numerous project around that in the last 14 years so I believe we will be able to answer most of your questions.

So, enjoy the rest of the course devoted to Spending Less!

Cost Reduction in Private Life
00:56

In the last section I will show you how to reduce your own private spending, expenditures. These examples will help you understand and implement the general approach to cost cutting. It will also help you reduce your own personal wealth

Preview 01:27

Here I will show you the general framework for building wealth that we will use in the whole course. In this lecture we wil go in detail when it comes to ways in which you can spend less and save more

Preview 04:07

There are plenty of reasons why you have to first see on what you spend currently your money. We will discuss them in this lecture

Why you need data on what you spend your money?
03:21

Let’s start with the goal. You want to see on what categories you spend money and how much they make in your monthly spending. There are 4 approaches to gather data on how much you spend and on what. We will discuss them in this lecture

How to get data on how you spend your money
03:33

Imagine that you have to help your friend Giuseppe analyze his spending. He has gathered data for the last 2 months

Analysis of Giuseppe expenses – Introduction
00:54

Here we will discuss the data that we need for the case study. We will have a look at expenses of Giuseppe.

Analysis of Giuseppe expenses – Data Available
03:50

In this lecture we will solve previously introduced cases study.

Analysis of Giuseppe expenses – Analysis by Reasons
03:02

In this lecture we will solve previously introduced cases study.

Analysis of Giuseppe expenses – Analysis by Categories
02:00

In this lecture we will solve previously introduced cases study.

Analysis of Giuseppe expenses – Joint Analysis
02:02

In this lecture we will solve previously introduced cases study.

Analysis of Giuseppe expenses – How to do it – Pivot Tables
03:56

Just as reminder reducing usage is one of the ways in which we can spend less. Now we will talk about this in details

Preview 01:33

We are back to Giuseppe. Since we know that he is spending too much let’s try to see how much he can save by reducing frequency of certain activities

Preview 01:02

In this lecture we will solve previously introduced cases study.

Preview 01:49

In this lecture we will solve previously introduced cases study.

Preview 03:30

Let’s imagine that you were to help Maria reduce her one-offs expenses by reducing the frequency of purchase. There are a few things that we know about Maria. Use them to decide how often she should replace: domestic aplliances, clothes, smarthpones, laptos and others

Reduce how often you replace something – Case Introduction
00:50

Here we will have a look at data that we will use for the case study

Reduce how often you replace something – Data Available
01:59

In this lecture we will solve previously introduced cases study.

Reduce how often you replace something – Analysis in Excel
02:54

In this lecture we will solve previously introduced cases study.

Reduce how often you replace something – Summary in Excel
02:13

I will show you how ot use the low hanging fruit framework to decide which expesnes you should reduce

How to identify which expenses are worth reducing
04:03

Just as reminder eliminating some expenses is one of the ways in which we can spend less. Now we will talk about this in details

Eliminate some spendings
00:48

We will start by discussing how to identify which expenses are worth eliminating. Later on as always we will move on to case studies. There are 3 main reasons why you should eliminate certain expenses

  • Eliminate things you don’t use

  • Eliminate things you don’t enjoy

  • Eliminate things that are harmful

We will discuss it in this lecture

How to identify which expenses that are worth eliminating
01:04

Help Peter decide which things he should altogether eliminate from his expenses. He has gathered data on his annual expenses to be data driven

Eliminate some expenses – Case Introduction
01:03

Here we will have a look at the data for the case study

Eliminate some expenses – Data Available
01:21

In this lecture we will solve previously introduced cases study.

Eliminate some expenses – Solution in Excel
02:26

Another great thing that you can use to spend is less is simply to look at the prices you pay and change them

Renegotiate prices & find cheaper provider
00:55

We will start by discussing the general approach to renegotiating the prices

Renegotiate prices & find cheaper provider – General approach
02:16

We are back to Peter for a second round. This time around you will be asked to estimate how much he can save by renegotiating prices.

Renegotiate prices & find cheaper provider – Case Introduction
00:57

Here we will have a look at tha data that we need to solve the case study introduced in the previous case study

Renegotiate prices & find cheaper provider – Data Available
02:02

In this lecture we will solve previously introduced cases study.

Renegotiate prices & find cheaper provider – Solution in Excel
03:15

Total Cost of Onwership is an important concept that allows us to make the proper decisions. In the next few lectures we will discuss this concet in details and I will show you how to use it in practice

Total cost of ownership – Introduction
01:39

Here we will discuss a very useful concept that is used in business and should be also used when making serious long-term decisions the so called the total cost of ownership

Total cost of ownership
02:43

Let’s imagine that Peter is considering 2 choice: buying an apartment or renting it. Let’s use the total cost of ownership to see what makes sense.

Rent or buy a house – Introduction
01:17

In this lecture I will show you the solution to previously introduced case study

Rent or buy a house – Rentig cost
03:17

In this lecture I will show you the solution to previously introduced case study

Rent or buy a house – The loan
04:20

In this lecture I will show you the solution to previously introduced case study

Rent or buy a house – Buying the apartment
04:12

In this lecture I will show you the solution to previously introduced case study

Rent or buy a house – Comparison
02:05

Here I will show you when it makes sense to use the Total Cost of Ownership concept

Total cost of ownership – When to use it
03:06

Staying in shape can help you drastically reduce your expenses. Here we have both direct as well as indirect impact. We will discuss the benefits of staying in shape & healthy and why it makes impact on how much you spend

Be healthy & stay in shape
02:22

Lukas is a bit overweight and not that fit. You want to prove to him that this is very costly for him and that he can save a lot by exercising and eating less

The benefit of staying healthy and fit – Case Introduction
01:08

In this lecture I will show you the solution to previously introduced case study

The benefit of staying healthy and fit – Solution Part 1
03:46

In this lecture I will show you the solution to previously introduced case study

The benefit of staying healthy and fit – Solution Part 2
02:22

In this lecture we will talk briefly about applying the low hanging fruits in practice. I will show you the principles of using it as well as a practical example

Low hanging fruits
02:27

Imagine that you want to help Kate lose weight. Use the low hanging fruit approach to map all the potential solutions. First list activities

How to lose weight – Case Introduction
00:36

In this lecture I will show you the solution to previously introduced case study

How to lose weight – List of potential activities
02:27

In this lecture I will show you the solution to previously introduced case study

How to lose weight – Solution
03:52

Goals are good as long as they are SMART. In this lecture we will talk briefly about applying this useful concept in practice. I will show you the principles of using it as well as a practical example: some of them general and one specific for consulting

Set SMART goals
05:24

Let’s help Tom get in shape by using the SMART goal framework. Help him achieve his goals in 9 months

How to get into shape – Introduction
01:22

In this lecture I will show you the solution to previously introduced case study

How to get into shape – Losing Weight Basics
03:34

In this lecture I will show you the solution to previously introduced case study

How to get into shape – Losing Weight Summary
02:24

In this lecture I will show you the solution to previously introduced case study

How to get into shape – Lifting
01:41

In this lecture I will show you the solution to previously introduced case study

How to get into shape – Running & Summary
03:09

Whether you clean, cook, wait in the line you are effectively using your precious resource that is also limited – the time. Time like money is limited and you can exchange between each other. Calculating the value of your time is a next step that will help you save money.  We will dsicuss it in this lecture

Calculate the value of your time
02:49

Let’s imagine that you want to help Maria use her time wisely. Therefore, you want to show how much she invest in daily things expressed in money

Calculate the value time – Case Introduction
00:54

In this lecture I will show you the solution to previously introduced case study

Calculate the value time – Solution in Excel
02:22

You can use the value of time for 3 things

  1. Make-or-buy analysis

  2. Spend less

  3. Earn more

We will discuss it in this lecture

How to use the value of your time to make decisions?
03:00

As we have suggested you should use the value of your time to decide whether you should do something personally or you should buy it /delegate it

Make it or buy it
01:25

We are back to Maria. Using previous case study we will try to decide which activities she should delegate using the make-or-buy analysis.

Delegating some work to others – Case Introduction
01:25

In this lecture I will show you the solution to previously introduced case study

Delegating some work to others – Analysis of activities
02:57

In this lecture I will show you the solution to previously introduced case study

Delegating some work to others – Summary
01:47

Let’s imagine that you were to decided whether it makes more sense to buy a car or to use Uber

Car vs Uber – Introduction
01:33

In this lecture I will show you the solution to previously introduced case study

Car vs Uber – Cost of own car Basic
04:08

In this lecture I will show you the solution to previously introduced case study

Car vs Uber – Uber
01:32

In this lecture I will show you the solution to previously introduced case study

Car vs Uber – Comparison of costs
01:39

Now we will move to spending efficiency. This time the efficiency we will measure in happiness level per 100 USD spent. Let’s have a look at a short example that will exemplify what we have in mind

Measure happiness per 100 USD spend and adjust your choices
02:21

Let’s imagine that you friend Oliver wants to optimize the money he spends on his relations with his girlfriend. Help him find the optimal solution

Happiness adjustment – Case Introduction
00:47

We will have a look at data that we need to solve the case study. In this lecture I will show you the solution to previously introduced case study

Happiness adjustment – Data Available
04:02

In this lecture I will show you the solution to previously introduced case study

Happiness adjustment – Solution
03:28

Many people are stacked with expensive debts. You have to deal with them to reduce your overall expenses. There are some golden rules that you should follow when it comes to debt reduction. We will discuss them in this lecture

Reduce Liabilities – Introduction
02:37

Let's have a look a nice approach that is the most useful when it comes to reducing debts

Reduce Liabilities – the Process how to do it
01:42

Let’s imagine that you have to help Adam and Eva deal with their debts. They want to lower the amount they spend on interest paid. Have a look at their debts

Reduce Liabilities – Case Introduction
00:59

In this lecture I will show you the solution to previously introduced case study

Reduce Liabilities – the Mortgage
03:18

In this lecture I will show you the solution to previously introduced case study

Reduce Liabilities – the Credit Card & the Car Loan
02:38

In this lecture I will show you the solution to previously introduced case study

Reduce Liabilities – Debt Summary & Earnings
03:44

In this lecture I will show you the solution to previously introduced case study

Reduce Liabilities – Potential Improvements
02:57

Another step you can take is to repurpose assets that don’t generate income. We will discuss it in detail in this lecture

Preview 03:10

In this lecture we will have a look at an  approach we propose to handling the assets

Preview 01:21

Tomasz & Monika married 5 years ago and they have decided with his wife to go through their assets and put them to use. Help them with this task

Preview 01:14

Just as a reminder you were supposed to help Tomasz and his wife to go through their assets and put them to use. First you had to divide into 4 groups

Preview 02:10

In this lecture I will show you the solution to previously introduced case study

Preview 03:39

In this lecture I will show you the solution to previously introduced case study

Preview 01:51

In this lecture I will show you the solution to previously introduced case study

Preview 02:11

In this lecture I will show you the solution to previously introduced case study

Preview 02:59

The last thing worth considering that will help you spend less is to check the end outcome before investing. We will discuss this subject in this lecture

Check the end outcome of something and is it worth it
02:27

Let’s imagine that you were to help George decide whether it makes sense to go to USA for MBA

How much is MBA worth – Case Introduction
00:53

In this lecture I will show you the solution to previously introduced case study

How much is MBA worth – the Loan
03:21

In this lecture I will show you the solution to previously introduced case study

How much is MBA worth – Pessimistic scenario
03:10

In this lecture I will show you the solution to previously introduced case study

How much is MBA worth – Optimistic & Realistic
02:22

In this lecture I will show you the solution to previously introduced case study

How much is MBA worth – Comparison
02:31
+ Conclusions
1 lecture 01:14

Here you will find suggested other courses that are worth taking along with special discounts for you. I hope you will enjoy the other courses as well. If you have any requests regarding new courses please let me know!.

Bonus Lecture
01:14