In a large pot, heat the olive oil over medium heat. This will help sauté the onion and garlic, enhancing their flavors.

Add the diced onion to the pot and sauté for about 3-4 minutes until it becomes translucent.

Stir in the minced garlic and cook for an additional 1-2 minutes, until fragrant. Be careful not to burn the garlic.

Add the ground beef to the pot, breaking it apart with a wooden spoon. Cook until browned, about 5-7 minutes. Drain any excess fat.

Sprinkle the ranch seasoning mix over the cooked meat and stir well to combine, allowing the flavors to meld.

Add the black beans, corn, diced tomatoes, beef broth, tomato sauce, chili powder, cumin, salt, and black pepper to the pot.

Stir everything together and bring the mixture to a boil. Once boiling, reduce the heat to low and let it simmer for 20 minutes, allowing the flavors to develop.

Ladle the soup into bowls and top with shredded cheese, a dollop of sour cream, tortilla chips, diced avocado, and chopped cilantro as desired.

Serve hot and enjoy your delicious taco soup!