Subscription Business Models for Management Consultants

A practical guide how to analyze & model subscription businesses in Excel
Subscription Business Models for Management Consultants
File Size :
1.13 GB
Total length :
3h 42m



Asen Gyczew


Last update




Subscription Business Models for Management Consultants

What you’ll learn

How to model in Excel subscription businesses
How to analyze whether the switch to a subscription business
What are the main challenges in subscription businesses?
How to calculate customer acquisition costs
How to reduce customer acquisition costs
How to increase the value of customers
How to model e-commerce, streaming business and SaaS business in Excel

Subscription Business Models for Management Consultants


Basic or intermediate Excel
Basic knowledge of economics
Basic or intermediate knowledge of finance & accounting


What is the aim of this course?More and more firms switch from transaction-based businesses to subscription businesses. This business model requires a different approach when it comes to analyzing it in Excel. During some consulting projects, you may be asked to analyze or model subscription business models in Excel and advise firms on the best course of action. In this course, I will teach how to model fast and efficiently subscription businesses in Excel and how to analyze them during consulting projects.In the course you will learn the following things:How to model different subscription businesses in ExcelHow to analyze whether the switch to a subscription model makes sense or notHow to analyze customer acquisitionThis 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 the biggest firms from Retail, FMCG, SMG, B2B, and services sectors that I worked for. I have carried out or supervised over 90 different performance improvement projects in different industries that generated a total of 2 billion in 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 185 000 students including people working in EY, Walmart, Booz Allen Hamilton, Adidas, Naspers, Alvarez & Marsal, McKinsey, PwC, Dell, Walgreens, Orange, and many others.I teach through case studies, so you will have a lot of lectures showing examples of analyses, and tools that we use. To every lecture, you will find attached (in additional resources) the Excels as well as additional presentations, and 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 modifications, be applied by you or your team in your work.Why have I decided to create this course?Subscription businesses are not the dominant form in most industries. Many people struggle with capturing the complexity of such businesses in Excel. Subscription businesses also require a totally different approach to customer acquisition and retention. Most universities are not addressing this sort of business. Also, some consulting firms don’t provide their consultants with enough opportunities to understand and learn how subscription business work.Therefore, I have decided to create this course that will help students understand or refresh their knowledge of subscription businesses. The course will give you the knowledge and insight into real-life case studies that will make your life during a consulting project much easier. Thanks to this course, you will know what and how to do during consulting projects devoted to subscription businesses. You will master the modeling of subscription businesses in Excel and analyze whether the switch to such a model will make sense. On top of that, you will learn how to approach customer acquisition and retention.To sum it up, I believe that if you want to become a world-class Management Consultant or Business Analyst you have to have a pretty decent understanding of subscription businesses. That is why, I highly recommend this course to Management Consultants or Business Analysts, especially those that did not finish business school or Economics. The course will help you become an expert in subscription businesses on the level of McKinsey, BCG, Bain, and other top consulting firms.In what way will you benefit from this course?The course is a practical, step-by-step guide loaded with tons of analyses, tricks, and hints that will significantly improve the speed with which you understand, and analyze businesses. 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 model different subscription businesses in Excel2. How to analyze whether the switch to a subscription model makes sense or not3. How to analyze customer acquisitionYou 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 into the following sections:Introduction. We begin with a little intro to the course as well as some general info on how the course is organized.Essential Concepts. We will start by explaining some essential concepts that later we will use to describe and show you the differences between subscription businesses. I will explain what we mean by subscription businesses, churn rate, MRR, and MRR churn. I will also provide examples of firms using a subscription model.Modeling Subscription Businesses in Excel. Modeling Subscription Businesses in Excel requires a bit different approach than transaction-based businesses. We will show you in this section how to do it. I will start with transaction-based e-commerce, after which we will show you how to model e-commerce as a subscription. Later on, we will also model the streaming businesses.SaaS. A lot of SaaS businesses run as subscription businesses. We will discuss what SaaS is, what KPIs you should pay attention to, and how to model them in Excel.Customer Acquisition. Without customer acquisition, you will not enjoy much growth. In e-commerce, you will spend a lot of time optimizing and finding more optimal ways to acquire customers. In this section, we will discuss how to calculate customer acquisition costs, how to lower them, and how to increase the value of the customer.You will be able also to download many additional resources1. Useful frameworks and techniques2. Models & Analyses shown in the course3. Additional resources4. Links to additional presentations, articles, and movies5. Links to books worth readingAt the end of my course, students will be able to…How to model in Excel subscription businessesHow to analyze whether the switch to a subscription businessWhat are the main challenges in subscription businesses?How to calculate customer acquisition costsHow to reduce customer acquisition costsHow to increase the value of the customerHow to model e-commerce, streaming business, and SaaS business in ExcelWho should take this course? Who should not?Management Consultants and Business AnalystsManagersFinancial ControllersInvestment AnalystsStartup FoundersProject ManagersManagers responsible for Acquisitions and MergersWhat will students need to know or do before starting this course?Basic or intermediate ExcelBasic knowledge of economicsBasic or intermediate knowledge of finance & accounting


Section 1: Introduction

Lecture 1 Introduction

Lecture 2 A little bit about me

Lecture 3 How to deal with Blurry image

Lecture 4 How to reach additional resources

Section 2: Essential Concepts

Lecture 5 Essential Concepts – Introduction

Lecture 6 Examples of Subscription Models

Lecture 7 Drivers of Subscription Models

Lecture 8 What is a Customer Churn Rate

Lecture 9 Monthly Recurring Revenue (MRR)

Lecture 10 What is a MRR Churn Rate

Section 3: Modeling Subscription Business in Excel

Lecture 11 Modeling Subscription Business in Excel – Introduction

Lecture 12 E-commerce financial model – Basic version

Lecture 13 Modeling Cash Flow in e-commerce – Introduction

Lecture 14 Cosmetics E-commerce – Case Introduction

Lecture 15 Cosmetics E-commerce – Data Available

Lecture 16 Cosmetics E-commerce – Sales & Margin & Head Office Costs

Lecture 17 Cosmetics E-commerce – P&L

Lecture 18 Cosmetics E-commerce – How to get from Net Profit to Cash Flow

Lecture 19 Cosmetics E-commerce – Some comments on Working Capital

Lecture 20 Cosmetics E-commerce – Back to Excel

Lecture 21 Cosmetics E-commerce – Working Capital, Capex, Debt

Lecture 22 Cosmetics E-commerce – Cash Flow

Lecture 23 Cosmetics E-commerce – Interest Received

Lecture 24 Cosmetics E-commerce – How to create a Flexible Model

Lecture 25 E-commerce subscription – Case Introduction & Drivers

Lecture 26 E-commerce subscription – Data Available

Lecture 27 E-commerce subscription – Customers

Lecture 28 E-commerce subscription – Sales & Margin

Lecture 29 E-commerce subscription – Capex

Lecture 30 E-commerce subscription – Head Office Costs

Lecture 31 E-commerce subscription – P&L

Lecture 32 E-commerce subscription – Working Capital & Debt

Lecture 33 E-commerce subscription – CF

Lecture 34 Streaming Business – Case Introduction & Drivers

Lecture 35 Streaming Business – Data Available

Lecture 36 Streaming Business – Customers

Lecture 37 Streaming Business – Sales & Margin

Lecture 38 Streaming Business – Capex

Lecture 39 Streaming Business – Head Office Costs

Lecture 40 Streaming Business – P&L

Lecture 41 Streaming Business – Working Capital & Debt

Lecture 42 Streaming Business – CF

Section 4: SaaS

Lecture 43 Introduction to SaaS

Lecture 44 Examples of SaaS businesses

Lecture 45 Logic flow of customers in SaaS

Lecture 46 Main KPIs for SaaS

Lecture 47 Main challenges in SaaS

Lecture 48 SaaS financial model – Basic Version

Section 5: Customer Acquisition

Lecture 49 Customer Acquisition – Introduction

Lecture 50 Customer Acquisition – Definition

Lecture 51 Cost reduction framework

Lecture 52 How to lower Customer Acquisition

Lecture 53 Customer Lifetime Value (LTV)

Lecture 54 How to increase LTV – Examples

Lecture 55 How to increase LTV – General Framework

Lecture 56 Payback Time

Section 6: Switching to Subscription Model

Lecture 57 Switching to Subscription Model – Introduction

Lecture 58 Examples of firms that have switched to subscription

Lecture 59 From SMCG to service – Introduction – Part 1

Lecture 60 From SMCG to service – Introduction – Part 2

Lecture 61 From SMCG to service – Case Introduction

Lecture 62 From SMCG to service – If sold as a product

Lecture 63 From SMCG to service – If sold as a service – Part 1

Lecture 64 From SMCG to service – If sold as a service – Part 2

Lecture 65 From SMCG to service – Comparison

Lecture 66 From SMCG to service – Solution in Power Point

Lecture 67 Modeling SMCG business model as a service business – General Remarks

Lecture 68 Modeling SMCG business model as a service business – Head Office costs

Lecture 69 Modeling SMCG business model as a service business – Profit & Loss

Section 7: Conclusions

Lecture 70 Bonus Lecture

Management Consultants,Business Analysts,Managers,Financial Controllers,Investment Analysts,Startup Founders,Managers responsible for Acquisitions and Mergers

Course Information:

Udemy | English | 3h 42m | 1.13 GB
Created by: Asen Gyczew

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