In a large skillet brown the lean ground beef on medium heat. Use a wooden spoon to break the meat apart (for about 5 minutes) until its just about cooked and no longer pink.
Then add in the onion, bell pepper, garlic, diced fresh tomato, and cilantro. Mix well then add in the tomato sauce, ground cumin, bay leaf, and Manzanilla Spanish olives.
Reduce the heat to low and simmer for at least 20 minutes with the lid on. *If the picadillo is looking a little thick you can add in ¼ cup of water to thin out the sauce. Stir occasionally. Once the picadillo is done, divide evenly among plates and serve on top of rice.