Heat olive oil in a Dutch oven or large saucepan over medium heat, add beef, worsterchire sauce, garlic powder, onion powder, paprika, and 1 teaspoon salt. Crumble and cook until no longer pink, 6-8 minutes; drain and set aside.
Melt 1 tablespoon butter in the same pan used to cook the beef in, over medium heat. Sauté onion, carrots and celery until vegetables are tender, about 10 minutes. Add potatoes, and broth and bring to a boil. Reduce heat, cover and simmer until potatoes are tender, 10-12 minutes.
Meanwhile, in a small skillet, melt remaining 3 tablespoons butter. Add the flour and cook until bubbly, constantly stirring for 3-5 minutes. Add flour mixture to the soup and bring to a boil. Cook and stir for 2 minutes. Reduce heat to low. Stir in cheese, milk, remaining 1 teaspoon of salt and black pepper; cook for 3 to minutes, or until the cheese melts. Stir ¾ of the ground beef into the soup. Remove from the heat.
Garnish with reserved ground beef, extra cheese, and fried potato chips, if desired. Enjoy!
