Offline Business Models in Excel - Practical Guide (Udemy.com)
A practical guide for Business Analysts and Consultants how to do financial and business modeling
Created by: Asen Gyczew
Last updated September 2026
What you will learn
- Create business models in Excel
- Analyze offline business models in Excel
- You will understand what is important in your business
- You will know what KPI you should look at and what are the benchmarks
- You will learn how to analyze strategies using business models in Excel, especially during management consulting projects
How it compares
Against the other 376 rated Udemy courses in Finance & Accounting on CourseDuck:
- Rating4.6 out of 5higher than 68% of them
- Reviews158#293 of 377 by number of reviews
- Length3.7 hoursshorter than 58% of them
- Last updatedSeptember 2026more recently than 88% of them
Course Description
What is the aim of this course?
This course will help you drastically improve your knowledge and skills in creating business models in Excel for traditional offline businesses such as Retail, B2C services, and products, and B2B services, and products. It is designed for those who want to become consultants, business analysts, and people who need to be able to analyze any business in Excel. In the course you will learn 4 things:
What your business model is about, what to concentrate on and what are the most important KPIs for you?
How to translate your business model into Excel and evaluate it?
How to draw conclusions using your business model in Excel?
Estimate the impact of specific changes that you may consider in your business
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 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 224 000 students including people working in EY, McKinsey, Walmart, Booz Allen Hamilton, Adidas, Naspers, 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, 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?
Most consultants and business analysts struggle with building business models in Excel as it requires a mixture of knowledge about the business, some fluency in simplification, and presentation in Excel of the logic behind the business. By training in modeling your business in Excel, you gain in-depth knowledge about your business and you can spot faster the links between seemingly unrelated issues. This course is designed to fill in the gaps and turn you into an expert in business modeling. I strongly recommend this course to people who want to be in charge of their business as it will empower you to move your business forward.
To sum it up, I believe that if you want to build or to find improvements in any business you should master techniques related to modeling the business in Excel. That is why I highly recommend this course not only to consultants or business analysts who have to advise their customers but also to owners, founders of businesses as well as investment directors.
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 analyze and create business models in Excel. 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 know:
How to build the model in Excel for your business
How to identify important issues for your business and how to reflect them in Excel
How to find ways in which you can significantly increase the value of the business
How to calculate the impact of proposed changes in Excel
You can also ask me any question either through the discussion mode 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 into the course as well as some general info on production
Retail. In the second section, I will discuss the business model of Retailers. I will show you the main challenges they are facing, KPIs that matter in Retail, and examples of companies. Since more and more Retailers operate also online I will also show you the details of the e-commerce business model. I will show you how to model traditional retail as well as e-commerce in Excel
B2C Services. In this section, I will discuss the business model of B2C services i.e. hairdressers, restaurant chains, plumbers, electricians, etc. I will show you the main challenges they are facing, the KPIs that matter in B2C service, and examples of companies. We will go into more detail when it comes to restaurant chains and I will show you how to model them in Excel.
B2B Services. Next, we will move on to the business model of B2B services. They behave a little bit differently than the B2C service. I will show you the main challenges they are facing, the KPIs that matter in B2C service, and examples of companies. In the end, I will show you how to model a consulting business in Excel.
FMCG. In this section, we will move to products. The first one to be discussed is FMCG products. I will show you the main challenges they are facing, the KPIs that matter in B2C service, and examples of companies. As an example, I will show you how to model in the Excel Cosmetics business.
Commodity. On the other scale are products for which the brand is not that important and that are simply selling well-known, not differentiated products. I will show you the main challenges they are facing, the KPIs that matter in B2C service, and examples of companies. As an example, I will show you how to model in Excel production of plywood
I will be adding new sections and lectures in the coming months
You will be able also to download many additional resources
Models in Excel shown in lectures
Links to books worth reading
Presentations of different business models
Instructor Details
- 4.6 Rating
158 Reviews
Asen Gyczew
Expert in performance improvement, scaling businesses, and turning-around companies with significant experience both in management as well as in supervision of medium size companies (EUR 20 – 500 million) and startups. I have trained in person over 100 consultants, business analysts, and managers who now are Investment Directors, CEO, Partners in PE and VC funds, Sales and Marketing Directors, Operational Directors, COO, Directors in Consulting Companies, Supply Chain Directors, Board Members, etc.
Functional experience: performance improvement, strategy development, startups, intrapreneurship, post-merger integration and cost reduction, due diligence, turn-arounds, PMO;
Industry experience: SMCG (domestic appliances, furniture, ceramic tiles), FMCG (cosmetics, juice, meat), retail (electronics, convenience shops, pharmaceuticals, DIY, vending, fashion, toys), B2B (aluminum system, plywood, alcohol, reagents, loading systems), services (MRO, consulting, outsourcing), foodtech, marketplaces
Countries: Poland, Serbia, Russia, Ukraine
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Reviews
By Rafal Baranowski on 6/22/2025
The course content is very good.It covered all the important aspects.
By Monika on 3/19/2025
Great approach. I managed to create a model of our business in Excel thanks to this course
By Anastas Markov on 11/23/2024
This course was for me a great starting point. I learn a lot new things. Thx
By Anonymized User on 10/24/2024
Content is good but seems too repetitive specially explaining excel files. This time could be shortened easily. Otherwise, good resources are provided. Will be very useful.
By Piero Ferrari on 7/28/2024
The course content is very good.It covered all the important aspects.
By Zenon Koza on 3/23/2023
Good Job with this course! I can not wait to continue on with the specialization. Thanks.
By Sabir Zeynalov on 2/21/2020
Very well ! Much information to learn. Liked the "drivers" and "business modelling" parts as well. The Excel part is good as a concept, however a bit boring because they re pretty much the same
By Yelzhan Naribayev on 12/5/2017
Thank you for your course. It is good to get basics of business modeling.
By Richard L Burnett on 9/29/2017
Excellent course. Learned a lot about evaluating business prospects.
By Kimseng Chhay on 8/16/2017
Understanding the basic of retailer business is important to do the modelling of accounting for business.
Quality Score
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Overall Score : 92 / 100












