In a medium sized skillet add olive oil and heat on medium heat. Add in chopped potatoes and season with the salt, garlic powder, onion powder, pepper, paprika and cayenne pepper.
Next, you will dice up your 7 oz. of ham steak into 1/2 inch pieces. Add the diced ham steak into the skillet with the potatoes and mix until thoroughly combined.
After you will add in your chopped red peppers that are also in 1/2 inch pieces. Mix until thoroughly combined as well. Cook on medium low for 5 minutes.