Gather all ingredients. Chop beef into bite-sized pieces and dice any vegetables. Cook bacon in a large pot over medium heat for 5-7 minutes until browned. Remove bacon, keeping drippings in the pot.

In the same pot, add chopped beef and sauté over medium-high heat for 5-8 minutes until browned. Add prepared vegetables and sauté for an additional 3-5 minutes until softened.

Pour in chicken broth, stirring into the beef and vegetable mixture. Bring to a simmer for about 5 minutes.

Mix cornstarch with cold water until smooth. Gradually add to the simmering soup, stirring constantly, and allow to cook for an additional 3-5 minutes until thickened.

Reduce heat and stir in cheese until melted. Taste and adjust seasoning with salt and pepper.

Toast bread slices until golden and crispy. Serve soup hot, garnished with crumbled bacon.