Start by gathering all your ingredients. Chop the onions, dice the carrots and potatoes, and mince the garlic. Having everything ready is key to a smooth cooking process.

In a large pot or Dutch oven, heat the olive oil and butter over medium-high heat. Add the beef cubes in batches; don’t overcrowd the pot. Sear until browned on all sides. This should take about 4-5 minutes per batch. Browning the meat develops flavor that will enhance your stew.

Once all the beef is browned, remove it from the pot and set it aside. In the same pot, add the onions and garlic. Sauté for 2-3 minutes until they become translucent. The aroma will be delightful! This step is crucial as it builds the flavor base of the dish.

Pour in the Guinness stout and red wine, scraping the bottom of the pot to release all those tasty browned bits. Bring it to a simmer. This deglazing process adds complexity to the stew.

Return the browned beef to the pot along with the chopped carrots, potatoes, thyme, tomato paste, soy sauce, and bay leaves. Season with salt, pepper, and brown sugar. Pour in the beef broth and just enough water to cover the meat and vegetables. Give it a good stir.

Bring the stew to a gentle boil, then reduce the heat and let it simmer uncovered. For about 90 minutes, stir occasionally. You want the beef to become tender and the flavors to meld beautifully.

Once the beef is fork-tender, taste the stew. Add more salt or pepper as needed. Stir in the fresh parsley just before serving for a pop of color.