Big 4 Intern Turned Crypto Accounting Entrepreneur with Mackenzie Patel

"My vision is to have a boutique crypto accounting and tax firm. I want to be the premier crypto accounting firm in the U.S., maybe in the world." – Mackenzie Patel

The finer details of this episode:

• Bold career decisions and experiences in the accounting industry
• Mackenzie Patel's focus on cryptocurrency and AI in her accounting firm, Hash Basis
• Mackenzie's journey from considering a career in Big 4 accounting firms to finding her niche in the industry
• Transition to focusing on cryptocurrency and AI in her accounting firm
• Mackenzie's passion for the technical aspects of accounting and her excitement about the intellectual challenges presented by the crypto industry
• Challenges and opportunities presented by the volatility of cryptocurrencies
• Challenges of hiring for her accounting firm, particularly for the role of a senior crypto accountant

Episode resources:

• Summit Virtual CFO by Anders website: https://www.summitcpa.net/
• Email us with questions or if you’d like to be a guest on the show: youngcpasuccessshow@anderscpa.com
• We’re hiring! Check out our open positions: https://www.summitcpa.net/career-opportunities
• Connect with Mackenzie here: https://www.linkedin.com/in/mackenziepatel/
• Check out Hash Basis here: https://www.hashbasis.xyz/

Timestamps:

Bold Career Decisions (00:00:23)

Hosts and guest share their boldest career decisions, including leaving the accounting industry and making a significant life change.

Transitioning Careers (00:04:09)

Joey discusses transitioning from accounting to insurance and then back to accounting, highlighting the challenges and successes of the journey.

Mackenzie Patel's Bold Leaps (00:05:49)

The hosts admire Mackenzie Patel's bold career decisions and discuss her passion for cryptocurrency and AI, inspiring others.

Early Career Challenges (00:09:26)

Mackenzie Patel shares her early career experience, including her decision to move away from the traditional path of working in a big four firm.

Discovering Career Preferences (00:12:52)

Mackenzie Patel reflects on her internships and how she realized that audit was not the right fit for her, leading her to find a better-suited role at Honeywell.

Cryptocurrency and AI Focus (00:16:07)

The hosts inquire about Mackenzie Patel's decision to focus on cryptocurrency and AI in her accounting firm, Hash Basis, and the excitement and challenges within this space.

The journey into crypto (00:16:43)

Mackenzie's transition from corporate accounting to crypto, and her passion for the industry.

Passion for accounting and crypto (00:18:09)

Mackenzie's enthusiasm for accounting and her deep dive into the crypto world.

Entrepreneurial leap into crypto accounting (00:21:33)

Mackenzie's decision to start her own crypto accounting firm and the influence of her family background.

Challenges and joys of crypto accounting (00:24:37)

The unique challenges and joys of working in the emerging field of crypto accounting.

The future of crypto and stability (00:27:56)

The potential for stability in cryptocurrency and its future as a medium of exchange.

Vision for the firm (00:30:11)

Mackenzie's vision for her boutique crypto accounting and tax firm, emphasizing a personal and end-to-end service approach.

Setting Boundaries and Family Planning (00:32:53)

Discussion about setting boundaries and planning for family while managing career growth.

Challenges of Hiring and Culture Building (00:33:25)

Mackenzie's process of hiring and the challenges faced in finding the right fit for her firm's culture.

Importance of Personality Quirks in Hiring (00:34:13)

Mackenzie's approach to hiring, focusing on understanding the essence of the person through candid conversations.

Revolutionary Business Services and Early Hires (00:35:46)

Comparison of Mackenzie's hiring challenges with the experiences of the hosts' bosses when they started their firm.

Self-awareness and Compatibility in Hiring (00:37:03)

The importance of self-awareness and compatibility in the hiring process, likened to dating.

Formatting Quirks and Attention to Detail (00:37:23)

Discussion about the importance of formatting quirks and attention to detail in the workplace.

Generational Divide: One Space or Two? (00:40:05)

Conversation about the generational divide in typing spaces and the history behind it.

Marriage Advice and Communication (00:45:46)

Advice on understanding weaknesses and communication styles in a marriage, including love languages.

Untraditional Wedding and Making Decisions for Yourself (00:48:48)

The importance of making wedding decisions for oneself and not solely to please others.

Marriage and Communication (00:49:56)

Discussion about wedding experiences and the importance of communication in relationships.

Trash TV Shows (00:51:25)

Conversation about favorite trash TV shows, including "The Bachelor," "The Bachelorette," and teen rom-coms.

Television Preferences (00:52:51)

Mackenzie's preference for anime and teen rom-coms, Joey's eclectic TV tastes, and his favorite show "The OC."

Connecting with Mackenzie (00:56:11)

Mackenzie shares her website and LinkedIn profile for listeners to connect with her.

Closing Remarks (00:56:47)

The hosts thank Mackenzie for joining the show and share information about career opportunities for young CPAs.