Heat the skillet over medium heat.

Add olive oil to the skillet, then sauté the chopped onion until translucent.

Add the ground beef, breaking it up as it cooks until browned.

Stir in the chili powder, cumin, paprika, salt, and black pepper.

Add minced garlic and cook for another minute.

Pour in the beef broth, stirring well to combine.

Reduce heat to low and let simmer for about 5 minutes.

Stir in lime juice before serving.