Step 1: Prepare the Steak - Trim excess fat off the round steak, cut into serving-sized portions, and pat dry. Combine salt, black pepper, flour, smoked paprika, garlic powder, and onion powder in a bowl. Dredge each piece of steak in the flour mixture, shaking off excess.
Step 2: Sear the Steak - Heat 2 tablespoons of olive oil in a large skillet over medium-high heat. Sear the steak pieces for 4-5 minutes on each side until browned. Remove from pan and set aside.
Step 3: Cook the Vegetables - In the same skillet, add the remaining tablespoon of olive oil. Sauté diced onion and carrot rounds for about 5 minutes until onions are translucent. Add minced garlic and cook for an additional minute.
Step 4: Build the Sauce - Add the seared steak back to the skillet. Pour in diced tomatoes, beef broth, and Worcestershire sauce. Stir to combine, scraping up any brown bits from the bottom of the pan.
Step 5: Simmer to Perfection - Bring to a gentle simmer, cover, and reduce heat to low. Allow to simmer for 1.5 to 2 hours, stirring occasionally and adding more broth or water if needed.
Step 6: Serve It Up - Once the steak is tender and the sauce thickened, taste and adjust seasonings. Serve hot, garnished with chopped parsley. Pairs well with mashed potatoes, rice, or crusty bread.
Notes
For extra flavor, consider adding a bay leaf or thyme while simmering. Adjust vegetables as desired, and add red pepper flakes for heat.