Creating this incredible Cuban Beef Stew can be straightforward if you follow these simple steps:

1. Sear the Beef: In a large pot, heat the olive oil over medium-high heat. Add the beef cubes and sear until browned on all sides. Remove the beef and set aside.
2. Sauté Vegetables: In the same pot, add the onion, garlic, and bell peppers. Sauté until the onions are translucent, about 5 minutes.
3. Add Carrots and Potatoes: Stir in the sliced carrots and diced potatoes. Cook for another 3-4 minutes, stirring occasionally.
4. Combine Ingredients: Return the seared beef to the pot. Add the diced tomatoes, beef broth, tomato paste, cumin, oregano, paprika, bay leaf, salt, and pepper. Stir everything together to combine.
5. Simmer: Bring the stew to a boil, then reduce the heat to low. Cover and let it simmer for about 1.5 to 2 hours, or until the beef is tender.
6. Adjust Seasoning: Taste the stew and adjust the seasoning if necessary. Remove the bay leaf before serving.
7. Garnish: Serve hot, garnished with fresh cilantro if desired.

These steps will guide you in creating an incredible Cuban Beef Stew that will impress your family and friends effortlessly.