Place a large Dutch oven over medium heat. Add the beef strips and cook until crispy and the fat has rendered. Remove from the pot and set aside.

In the same pot, add the ground beef. Cook over medium-high heat, breaking it apart until completely browned. Drain any excess grease.

Stir the keto-friendly chili sauce, beef bone broth, salt, chili powder, and garlic powder into the browned ground beef. Bring to a gentle boil.

Reduce the heat to low, cover the pot, and let it simmer for 30 minutes.

Ladle the chili into bowls and top with shredded cheddar cheese and the reserved crispy beef strips before serving.