That is classic to Texas although it is not watery enough. No Texan adds beans. Chili is very regional.
I like to add chili in adobo with canned whole tomatoes. They are very spicy. I live in the southwest so we have local roasted chilis on the side of the road. You can roast them yourself in the oven. Just make sure you get the heat you want. I like chili that is chunky and spicy. Also make my own chili powder using different dried chillies plus garlic powder and cumin. You can experiment for this.
Cocoa is very popular in the mid and southern regions of Mexico. They even have their own flavor with cinnamon which I am not a fan of tbh. It goes very well with spices though.
I wouldn't use garlic powder, fresh garlic is much nicer. Just stir it in the last minute or so you cook the onions.
Sweet potato isn't traditional in chili, but it's a nice addition. You can roast them first, or just cut into large dice and add raw. I like adding chipotle to the chili if I'm adding the sweet potatoes. The flavors go well together.
You can switch the ground beef for stew beef if you like. Brown it first. It will take longer to cook.
I am not a chili afficianado, but I like to add finely diced poblano peppers to mine. They bring some flavor of their own but not too much heat. For that, I use the old tried and true, Tobasco sauce!
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