An Audience with Russell Kelly, Managing Director, Fuelwise

Conscious Capitalism

In a world increasingly dominated by corporations (and wealthy individuals) owning businesses in the private sector and public utilities controlled by faceless venture capitalists, seemingly only answerable to shareholders, many employees and customers are unhappy that profits aren’t being used in a way that benefits everyone. So as we face the current cost of living crisis, strikes, rising inflation and fuel price hikes, just where will this all end and is there any light at the end of this dark tunnel?

We talk to Alchemist Forum member Russell Kelly MD of Coleraine-based company Fuelwise about how he has embraced his role as a business leader in building an organisation that does more than just generate profits.

“Everywhere you turn today you can’t get away from the current narrative that the rich getting richer and the poor getting poorer,” says Russell, “ and while I appreciate the need for a healthy level of capitalism to create wealth and economic growth, there is a growing unrest with the current gap between business leaders and their employees. In fact the Institute for Policy Studies in the US report that the ratio between CEO pay and the average worker grew from 42:1 in 1980 to 542:1 in 2020, it is no wonder employees are stressed or don’t enjoy going to work where their efforts only result in their bosses and company shareholders get rewarded.”

As a follower of Jesus, Russell had always been passionate about helping others and has never been motivated solely by monetary gains, “The Bible teaches us to look after the orphan, the widow and the marginalised in society”.

“At the age of 16 I set off for a career in football with Chelsea FC and after 8 years playing in England, Scotland and Iceland I returned home to Coleraine. I had worked in the family business part time for 6 months while playing for Linfield FC when my dad sadly passed away in 2001, but it was another year before I gave up my football career and concentrated on managing and growing Fuelwise.”

“I’m a firm believer in the “why” behind running a business. My dad originally set the company up so that he could put my brother through a medical degree at University. When it was my turn, I wanted to grow the business, not only to provide for my family, but to create jobs, invest in the local Coleraine community and make life better for those who needed the most help.”

Three years ago, after reading an inspirational book written by John Mackey (Co-Founder of Whole Foods) and Marketing Professor, Rajendra Sisodia - Conscious Capitalism: Liberating the Heroic Spirit of Business, Russell realised he’d been doing this for years. “I finally had a name for what I had believed in and put into practice all along!” he laughs.

Conscious capitalism is essentially a business philosophy whereby leaders focus on more than just making money. Rather, their intrinsic corporate goals are to make a positive impact on the world by operating in the interests of all their stakeholders – internally and externally – in a holistic and sustainable way.  

“Myself and the team at Fuelwise have been involved with the Vineyard Compassion charity where we support various initiatives including our local foodbank and discount supermarket for household essentials, as well as debt counselling with money management courses and advice programmes, job clubs, an emergency housing initiative and a log cutting and supply service manned by those getting themselves back into employment. Our goal is to meet people at their point of crisis and journey with them while they tackle the underlying issue to see them reach their full potential.”

In 2015 Russell set up another business, Score Football Centres, to bring first class facilities to the North Coast - but there was another motivating factor behind this venture.

“Mental health in young men is a massive problem in Northern Ireland and I believe sport, especially team sport, can provide a way where guys can come together regularly in a relaxed environment to stay fit, talk, connect and build friendships. All five 5-a-side pitches are available to hire 7 days a week and usually they’re fully booked for every session.”

While Russell acknowledges that his efforts may be on a much smaller scale than Whole Foods and Southwest Airlines in the US or Timpsons in the UK, his passion and commitment more than equals the leaders in any of these businesses.

“Conscious Capitalism teaches  that all businesses are part of the same economic ecosystem and rather than look at that ecosystem as a fixed-pie (if you take a slice there is less for others) we need to look at business as an expanding-pie where if we combine resources, labour and innovation wealth can greatly expanded. As the pie grows, there is more for everyone so the poor can become wealthier without the need for the well-off becoming poorer.”

“It’s not impossible to run a profitable business, whatever the size, and still do “the right thing”, says Russell. “I can honestly say that practising Capital Consciousness and having a purpose beyond just profits has helped me engage my team, build customer loyalty, and support the local community in a meaningful and productive way.”

Fuelwise

Fuelwise is a fuel and fleet management company that exists to help businesses lower fuel spend, reduce maintenance costs and help identify any fuel misuse within your business.

Your fuel card gives you access to the largest choice of refuelling stations in Ireland and UK at one low weekly price, cutting out dead miles wasted looking for the cheapest filling station and taking out the worry about regional and national price variations.

Your GPS/Telematics service gives you insight into how your vehicles are being driven. We help you set up automatic reports that help you manage better driver behaviour which when implemented correctly sees fuel consumption drop by up to 10% and lower fuel and maintenance costs by 20% p.a.

For more information go to www.fuelwise.co.uk

Greater Decisions > Greater Thinking > Greater Performance 

Let the Alchemists Forum help you on your path of change and discovery in 2022. Contact Alan Branagh  alan@alchemistsforum.com for more information.

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The Work Life Balance Conundrum