Over medium heat, warm the olive oil in a pot or Dutch oven that is slightly larger.
Place the beef cubes in the pot and cook for approximately 5 minutes, stirring occasionally until lightly browned.
Once the first 5 minutes have passed, incorporate the mushrooms and onions into the pot and continue cooking for another 5 minutes while stirring frequently until the vegetables have become tender. Introduce the garlic to the mixture and stir for an additional minute.
Pour in beef broth, tomato paste, Worcestershire sauce, bay leaf, flour, and thyme, and season with salt & pepper to taste. Combine all the ingredients and bring them to a boil while stirring.
Once the mixture comes to a boil, reduce the heat to low, cover, and allow it to simmer for 45 minutes while occasionally stirring. The stew should be thick and the beef tender.
Try the stew and add more salt and pepper, as necessary, to adjust the seasoning to your liking. Serve warm with desired accompaniment, such as mashed potatoes or rice.
