Heat 1 tablespoon oil in a large skillet over high. Sprinkle salt and pepper on steak. Add steak to pan and cook until browned, stirring occasionally. Remove steak from pan (do not wipe out pan).
Cook until vegetables are tender but still crispy and liquid reduces by half, about 5 or 6 minutes. Add steak; cook 1 minute.
Note: You can also mix the rice in with the beef mixture just before serving as we did in the photos.