Business Profile Series | XPonential Inc.

XPonential Inc.
Nicky Scott

 Mel: Being a financially focused company in the middle of an economic downturn, what advice could you give to the everyday family in Calgary?

Nicky: One of the biggest challenges we see is that people do not know where their money goes – or how much they “cost”.  Tracking is a very important skill to build.  The basic principle of spending less than you make goes a long way during times like this.  By understanding where your money is going, you can find ways to reduce on discretionary expenses, and perhaps ways to reduce some of your fixed expenses.

Mel: What has been the highlight of your year with XPonential?

Nicky: We have had a few amazing breakthroughs with clients in our financial education program.  We had one young lady who was struggling with her personal spending – always running out of money.  She tracked all her spending for the first half of the year, and made some choices about where she wanted her money to go, instead of impulsively spending and wondering if she had enough for it.  She has gained control of her discretionary spending, and has gained confidence in her ability to manage her finances.  That’s a great feeling to help someone achieve in that way.

XPonential Inc.Mel: What is the biggest stumbling block you’ve noticed with finances? How have you been able to overcome those challenges?

Nicky: Two biggest stumbling blocks for young adults are understanding what your life costs – especially if your parents have had most of the responsibility for your financial life.  The transition towards independence can be shocking.  The second, is valuing financial education as important, and having the willingness to build your skills and develop good habits around money.  Most of our money beliefs and behaviours are formed very young, and affect us throughout our adult life with money.  Becoming independent requires training and planning to get there.

Mel: Who inspired you to get into this role?

Nicky: My mom.  She works with families to help them have successful wealth transition, and in the process has discovered that young adults need some help to develop the skills that are required for independence and financial stewardship.  Together, we have built the XPonential program to guide them through this process.  Also, she is a brilliant woman, and taught me a lot throughout my life about finances – even if I didn’t realize it until now!

XPonential Inc. Mel: How long would you say it takes to break bad financial habits and turn your financial situation around? 

Nicky: If you are motivated, it can happen immediately.  Most “habits” take about 3 months to truly change a behaviour pattern.  You need the right tools and support to move forward with changes.  Sadly, people with damaged credit have a long road ahead, as most blemishes on your credit rating stick around for seven years.  There are ways to work on improving your credit over time.

Mel: As an Entrepreneur, what is the easiest and hardest elements of owning a company in your opinion? 

Nicky: The easiest is when you find people clients who are intentional and the process flows easily.  The hardest building in the right places – there are so many choices about how to advertise, social media, networking, blogging, etc.  You really have to decide where to focus your time and efforts, and be willing to change your plan if it’s not meeting your needs.

Mel: What are your New Years resolutions? And what do you want to see for your company this year? 

Nicky: We are continuing to grow, we have a cool idea to expand our service offering. Our real challenge is to ensure that the program we deliver and the people we work with is meaningful, relevant and FUN!

XPonential Inc.

Business Owner Resources

Recommended Authors/Thought Leaders

The Opposite of Spoiled, Ron Lieber:

The Secrets of Happy Families, Bruce Feiler:

Raising Financially Fit Kids, Joline Godfrey:

Family Business Resources

Canadian Association of Family Enterprise: 

Institute of Family Enterprise Advisors:



Office Guardians Vertical Logo
We help businesses face challenges and opportunities tied to rapid growth, organizational or budget constraints, limited skills, or resource gaps by providing flexible outsourced solutions. We work with solopreneurs, entrepreneurs and various small businesses. Our goal is simple: with our help, you get more time to do what matters most: business development and building your brand. Let Office Guardians be your partner in success by reducing the amount of non-core business activities you engage in.