Heat olive oil in a large skillet over medium heat.
Add ground beef and cook, breaking it up with a spoon, until browned. Drain off any excess grease.
Add onion and bell pepper (if using) to the skillet and cook for a few minutes, until softened.
Stir in potatoes, salt, pepper, garlic powder, and any additional spices you like.
Pour in beef broth or water. Bring to a simmer, then reduce heat to low, cover, and cook for 15-20 minutes, or until potatoes are tender.
Add more water or broth if needed while cooking to prevent sticking.
Taste and adjust seasonings as desired.