Low Cost Business Models
4.5 (39 ratings)
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Low Cost Business Models

How to create no-frill low cost business model and kill the competition
4.5 (39 ratings)
Instead of using a simple lifetime average, Udemy calculates a course's star rating by considering a number of different factors such as the number of ratings, the age of ratings, and the likelihood of fraudulent ratings.
2,144 students enrolled
Created by Asen Gyczew
Last updated 8/2017
English
Price: Free
Includes:
  • 38 mins on-demand video
  • 1 Article
  • 3 Supplemental Resources
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
What Will I Learn?
  • Understand the low cost model
  • You will know when and how you can apply low cost model
  • Build your own low cost business in your industry
View Curriculum
Requirements
  • Basic knowledge of economics
  • Some common sense and logic
Description

What is the aim of this course?

The success of many companies depends on figuring out a clever way to grow, earn or operate that will change drastically change the game, stack the cards in their favor. There are many interesting business hacks that give this result.  In this lecture I will show you how one of such business tactics – the low cost models has been successfully implemented in many businesses. This powerful tactic applied has already disrupted many industries like airlines, hotels, retail. One of the best known examples are IKEA, Southwest and Raynair

The course is based on my 12 years of experience as a consultant in top consulting companies and owner of small consulting company (the last 7 years). I have been also CEO, Board Member responsible for strategy, improvement and turn-arounds in biggest companies from FMCG, SMG, and B2B in Poland so I know the implications of what I will be talking about inside-out. I have first hand experience with low cost airlines and low cost retail

In this lecture apart from the case studies of companies that implemented low cost model I will show you the math behind the low cost model that fuels the whole business and makes it so successful.

 

In what way will you benefit from this course?

The course is a practical, step by step guide loaded with tones of, tricks, hints, examples that will show you where you can go with your business. There is little theory – mainly examples, a lot of tips from my own experience as well as other notable examples worth mentioning. My intention is that thanks to the course you will know:

  • How low cost model work?
  • How you should build it in your industry?
  • Where you have to look for improvements to be competitive?
  • How to estimate your competitive advantage using data from your industry?

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

I will produce the necessary content and share it with you

 

How the course is organized?

The course is divided currently in 3 sections and I will be adding new sections to address other important issues. Currently you will find the following sections:

  • Introduction. I begin with little intro into the course  as well as into the low cost model
  • Examples of Low Cost Models. Here I show examples of low cost models from different industries. You will also find also links to a lot of additional materials that should help you in building your business.
  • Math behind the low cost model. In this section I will show you want drives the economics of low cost model. I will show you using the airlines examples how low cost carrier differ in comparison with regular players

 

We will be adding new sections in the coming months and expanding existing ones

You will be also have access to many additional resources

  • Links to interviews and presentation with more detailed data
  • Data showing the impact of some of the hacks on the business
  • Links to books worth reading

 

So enjoy the course and if you have any questions let me know

 

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

  • Understand the low cost model
  • You will know when and where you can apply it
  • You will be to estimate the impact of applying the low cost model to chosen industry

 

Who should take this course? Who should not?

  • Entrepreneurs
  • Business analysts
  • Consultants
  • Startups founders

 

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

  • Basic knowledge of economics
  • Some common sense and logic 
Who is the target audience?
  • Business analysts
  • Entrepreneurs
  • Consultants
  • Startups founders
Students Who Viewed This Course Also Viewed
Curriculum For This Course
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Introduction
3 Lectures 07:55

Here I will show you what you will learn about low cost model and why you should take the course


Introduction
02:21

I will talk briefly about me, my experience and how come I know so much about hacks and tricks used by different sort of companies

About me
01:47

I will discuss here the general concept of low cost mode,  when it makes sense and in what industries it is already used

Low Cost Model - introduction
03:47
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Case studies of successful low cos models
5 Lectures 21:34

IKEA has been very successful in implementing low cost model in furniture. I will show you all main elements were they were very successful: “big box” model built outside the city center, design, consistent message, diversified revenue streams, operational excellence, business scale

IKEA
06:03

Raynair is an example of a great execution of the low cost model in airlines. They have used 1 type of aircraft and increased their capacity, they do only point-to-point and use cheap airports. Raynair is also master of operational excellence and has been also very creative on the revenue streams

Raynair
05:59

Biedronka is a very good execution of low cost model in retail. Biedronka  keeps it simple on the operational side and they went deep into product management. I will show you how they managed to become a leader in Poland

Biedronka
03:17

Here I will show you how low cost works for Fitness clubs

Fitness Clubs
03:17

Here I show how the low cost model works for hotels

Low cost hotels
02:58
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Math behind the low cost model
3 Lectures 08:54

In this section I will show you want drives the economics of low cost model. I will show you using the airlines examples how low cost carrier differ in comparison with regular players

Introduction to math for low cost models
03:35

In many cases you can get high end result from compounding effect in time or by getting small improvements in many areas. In this lecture I will explain the concept. The compounding effect is especially important with low cost carriers. You need a lot of small improvements to make the difference in costs. 

Compounded Effect
01:52

I will show you in this lecture where the difference in cost comes from using as an example the airlines espiecially data on the Raynair and Lufthansa

Raynair vs regular airline - math behind the low cost model
03:27
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Conclusions
1 Lecture 00:48
Bonus Lecture: up to 90% discounts for all my courses
00:48
About the Instructor
Asen Gyczew
4.3 Average rating
866 Reviews
19,139 Students
22 Courses
Expert in performance improvement, turnaround and startups

Expert in performance improvement, startuping and turning-around companies with significant experience both in management as well as in supervision of medium size companies (EUR 20 – 40 million) as well as startups.

Specialties:

Functional experience: performance improvement, strategy development, startups, intrapreneurship, post-merger integration and cost reduction, due diligence;

Industry experience: SMCG (domestic appliances, furniture, ceramic tiles), FMCG (cosmetics, juice, meat), retail (electronics, convenience shops, pharmaceuticals, DIY, vending), B2B (aluminum system, plywood, alcohol, reagents, loading systems), services (MRO, consulting, outsourcing)

Countries: Poland, Serbia, Russia, Ukraine