Cut beef into 2-inch pieces and let it simmer for about 20 minutes with 4 quarts of water.
Sautée carrots, onions and beets with 4 tablespoons cooking oil. Sautée until vegetables are soft (7-10 minutes). Add to the beef broth. Drain and rinse beans and add them to the pot. Cook for 20 minutes.
Add sauteed veggies to the beef broth. Drain and rinse beans and add them to the pot as well. Cook for 15 minutes.
Add sliced potatoes to the cooking ingredients and simmer for another 15 minutes.
After the potatoes are almost done cooking add sliced cabbage to the pot. Add ground pepper, salt to taste, vinegar and ketchup. Let the borscht simmer for 10 more minutes.
Serve with a dollop of sour cream or real mayo. This is optional, most people like sour cream, I don't.