Cook the bacon. Chop the bacon and cook it in a Dutch oven or a large pot over medium-high heat until browned and crispy. Remove the bacon with a slotted spoon and set it aside.
Cook the kielbasa. Cut the kielbasa into ½-inch thick slices. Cook the kielbasa in the same pot where you cooked the bacon until the kielbasa is browned on all sides. Remove the kielbasa from the pot and set aside.
Brown the beef and onions. Add the ground beef to the same cooking pot. Season the beef with salt and pepper and cook, crumbling it with a wooden spoon until the beef is browned. Stir in the onions and cook for 3 more minutes.
Put it all together. Once your beef is nicely browned, add garlic powder, chili powder, cumin powder, Rotel tomatoes, baked beans, corn, water, and potato. Place back in the bacon and kielbasa and give it all a good stir.
Simmer. Bring the stew to a boil. Reduce heat to medium-low and simmer the stew for 50-55 minutes. If needed, add a bit more water during the cooking process.
Garnish and serve. Taste and adjust the seasoning of your stew. Serve it while still warm, garnished with chopped parsley.