In a large Dutch oven or pot, cook the chopped bacon until crispy over medium-high heat. Remove and set aside, leaving a tablespoon of bacon drippings.

In the same pot, cook the ground beef, onion, and garlic over medium heat until browned. Drain any excess fat.

Add the sliced smoked sausage and crumbled cooked bacon to the pot. Stir and cook for a few minutes until heated through.

Add the diced potatoes to the pot and stir to combine.

Stir in the kidney beans, black beans, corn, and diced tomatoes (with their juice).

Add the beef broth, chili powder, cumin, smoked paprika, salt, and black pepper. Stir to combine.

Bring to a simmer, reduce the heat to low, cover, and simmer for 20-25 minutes until potatoes are tender.

Optionally, stir in the shredded cheddar cheese.