Heat the olive oil in a large skillet over medium heat. Add the ground beef and cook until browned, breaking it apart with a spatula, about 5-7 minutes. Drain excess fat if necessary.

Stir in the garlic powder, onion powder, chili powder, cumin, salt, and pepper. Cook for another 2 minutes until the spices are fragrant.

In a separate pot, bring water to a boil. Add the diced potatoes and cook until tender, about 10-12 minutes. Drain and set aside.

Add the corn, black beans, and diced tomatoes to the skillet with the beef. Stir to combine and cook for an additional 5 minutes until heated through.

In a large bowl, layer the cooked potatoes on the bottom. Top with the beef mixture, then sprinkle with shredded cheddar cheese.

Garnish with diced avocado and chopped cilantro. Serve with lime wedges on the side for squeezing over the top.