Brown the pork sausage well in a frying pan over medium-high heat, breaking apart with a turner or a potato masher (affiliate link) as it cooks. Add the sausage to large soup pot.
Add a little oil to the pan if needed and then brown the ground beef well and add it to the soup pot.
Add beef broth, tomato sauce, water, and diced tomatoes to the soup pot and let the mixture start to simmer.
While meats brown, chop the onions. Add about 1 tsp. more olive oil to the frying pan and cook cook onions 3-4 minutes, until they are barely starting to brown.
Add minced garlic, ground cumin (affiliate link), Mexican Oregano (affiliate link), chili powder, ground Ancho chile (affiliate link), dried cilantro (affiliate link), and 4 packets Goya Sazon Seasoning (affiliate link) and cook about 1 minute. (Don't stress if you don't have every spice I used. Use a bit more of the ones you do have.)
Add the onion-spice mixture to the soup pot and continue to simmer. Cut up the mushrooms and slice the olives in half (or keep olives whole if you prefer.)
Wipe out the frying pan if you think it needs it. Add two tsp. more olive oil to the frying pan and cook mushrooms until they have released their liquid and all liquid is evaporated. Add mushrooms and olives to the soup pot.
Turn the stove to low and simmer chili 1-2 hours, or until it's thickened and flavors are well blended. Season with salt and fresh-ground black pepper to taste.
Serve hot, with toppings like cheese, sour cream, and avocado if desired.
