Dice your onion, bell pepper, shallot, and mince your garlic. Combine beans in a bowl and thoroughly rinse them until water runs mostly clear.
Heat pot to medium-high heat, once heated add 1/2 tbsp olive oil and ground beef. Season ground beef with salt, pepper, onion powder, and garlic powder and cook until beginning to brown. Drain any excess fat from beef and set beef aside in a bowl.
In the same pot used for the beef add the other 1/2 tbsp of olive oil and return to heat. Sautee the onion, bell pepper, and shallot until they are golden brown. Add in minced garlic and cook until garlic becomes fragrant (usually 45 seconds).
Add back in the cooked beef, rinsed beans, the cans of diced tomatoes, tomato sauce, chicken broth, and all the seasonings.
Stir ingredients, reduce heat to low, cover pot, and simmer the chili for 30 minutes to 1 hour. Before pulling from heat, taste and adjust any seasonings to your liking.
Serve topped with sour cream, green onion, fresh lime juice, cheese, and any additional toppings you please and enjoy!