I'm making this now. I took 220g of ground beef (about half a lb), dumped it in a small 2.5qt pot over a medium heat. I'm using an electric range, if you're using gas that's more medium low.
A tablespoon of taco seasoning and then a tablespoon of flour or masa go on top. Don't even need to stir it yet. If you don't have taco seasoning, look up a well rated DIY recipe on Allrecipes.com. It's mostly chile powder.
You can go smoke a cigarette about now. You want the ground beef to brown and even form a nice char. Getting out soy sauce, sherry, and Worcestershire sauce in prep but don't add any liquids now, it'll fuck up how we want the meat to cook.
After your smoke, about ten minutes, go stir the ground beef, distribute the spices, and break up any big chunks. Don't worry about stuff burning to the bottom, that's flavor and we'll get that later.
I'm going to post this so I don't accidentally delete what I wrote. I'll update as the process continues and I'd like to mention why the flour is in there.
So after stirring you want to let the other side brown, maybe 5 minutes. Now we deglaze the pot with sherry. You just splash some sherry in the pot and scrape up the stuff on bottom. Fancy cooking technique!
I let the sherry cook off a moment then add a splash of Worcestershire, and soy. Stir well, now we add the other crap and we're almost done.
Dump in a small 10oz can of rotel (diced tomatoes and chiles) or simply diced tomatoes, about an equal amount of corn (I use frozen but canned works), and a can of Ranch style beans (these aren't hard to make if you can't find them, see AllRecipes).
I don't have any beans so I won't be adding any. Instead I'll add 1/4 tsp of garlic powder, onion powder, and a dash of oregano. Those are the flavors the ranch beans bring, besides bean.
An important note, you want to mostly drain canned veggies like tomatoes or corn that are in calcium chloride. You don't need to be perfect about it, but to some people calcium chloride has a weird taste. It's a shame to throw away flavorful liquid, but oh well.
Don't drain beans.
Last part, add in a cup of water with 1 tsp bouillon broth (or according to direction). Let it come to a boil and let it boil for a couple minutes, then reduce heat and simmer for about 10 minutes or until delicious, stirring occasionally.
Mine also needed a bit of black pepper. I don't make it spicy because of the wife, but if you don't have that issue, hot peppers are good too.
The flour is in there because it thickens the soup, binds to the fat so it doesn't separate, and because it's cheap. This whole meal is pretty much about stretching out expensive meat.