In a bowl, season beef with chili powder, brown sugar, paprika, garlic powder, onion powder, seasoning powder (if you’re using), salt, and pepper
Heat oil in a big pan/dutch oven over medium heat and brown/sear the seasoned beef for about 1 minute on both sides; you don't want to cook the meat thoroughly. You can sear the beef in batches if you're using a small Dutch oven/pan. Transfer the seared beef to a plate and set aside.
In the same pan, add more oil if needed, scrape any beef bits in the pan, add sliced onion, and cook for about 2-3 minutes. Add the remaining gravy ingredients, but slurry.
Add the seared beef and combine, bring to a boil, then simmer on low heat until the meat is almost cooked, about 45 minutes, depending on the beef size.
Mix cornstarch with small water to make a slurry and add half of the mixture; if your beef tips are thickened to your preference, you don’t need to add the rest of the slurry. Cook for another 2-3 minutes until the beef is fully cooked to your desire.
Check the seasoning and adjust if necessary.
Served beef tips with rice.
Enjoy with your favorite side dish!