Add the olive oil into a cast iron skillet over medium high heat. Season your stew meat with the seasoned salt, black pepper, garlic powder, onion powder, and nutmeg (optional).
Gently add your beef into the cast iron skillet and seer for 3-5 minutes, until it forms a nice brown crust.
Next add in your bell pepper, mushrooms, and onion and saute for about 2 minutes.
Pour in two cups of the water, place the lid on the skillet, and adjust the temperature to medium-low. Simmer the meat for about 20 minutes. Check the liquid level after 10 minutes, and add 1/4 of water if needed.
While the meat is simmering, mix up the gravy packets according to the instructions. After 20 minutes, remove the lid and pour the gravy mixture into the skillet.
Stir until everything is fully combined. Cover the skillet and let the beef tips simmer for another 15 minutes, checking every 5-7 minutes to make sure it doesn't need more water.
Taste for seasoning, and add salt and pepper according to your desired taste.