If necessary, cut your stew meat into manageable pieces (you’ll be shredding them later). Toss the steak in a large pan with the salt, pepper, cumin, onion powder, garlic powder, cayenne, paprika, and olive oil. Heat the steak over medium-high heat until the steak is browned on all sides.
Turn the heat down low, and stir in the worcestershire and beef broth. Place a lid on the pan and let the steak roast in the liquid for around 10 minutes. Cook (stirring occasionally) until the steak has a caramelized golden brown and there is a reduced saucy glaze in the pan.
Use a slotted spoon to remove the cooked beef from the pan, leaving the glaze in. Allow the steak to cool before shredding up with tongs and a knife or a pair of forks.
While the steak is cooling, you can make the base of the dip. Melt the cream cheese into the pan glaze over a low heat. Once fully melted and lump-free, whisk in the cream. The sauce will pick up all the leftover flavors in the pan.
Once the sauce is heated to a simmer, return the shredded beef to the pan and stir in the colby cheese. Stir until the cheese has melted and the whole dip is heated through.
Set the dip aside to cool slightly. Cut 1-2 bell peppers in approx. 8 large pieces for dipping.
For serving, each person should have approx. 2 ½ oz bell pepper (2 slices) and about 3 ¾ oz dip.