Add four slices of bacon to a large pan and place over medium heat, turning as it cooks until crispy. Once cooked, remove, and set on a paper-towel lined plate to absorb excess grease.

While the bacon is cooking, prepare the vegetables. If using whole mushrooms, wash them and then slice into bite-sized pieces. Dice a medium yellow or sweet onion (or two shallots) and mince two cloves of garlic, set everything aside.

Once the bacon has been removed, add the diced onion to the bacon grease, and cook, stirring occasionally, until almost softened, about 3-5 minutes (if omitting the bacon, add 2-3 tablespoons of oil to the pan on medium heat and add the onions once the oil is hot). Add the sliced mushrooms and continue cooking until they begin to shrink some, about 5-6 minutes.

Once the mushrooms begin to shrink, add the minced garlic and butter until it melts. Add the flour and stir until everything is combined. Now add the tomato paste, balsamic vinegar, black pepper, thyme, and sweet paprika (if using). Stir to combine and allow everything to toast up for a minute.

Slowly pour in the beef broth and stir to combine as you pour. Reduce the heat to low and allow it to simmer until reduced and thickened to your desired amount, usually 5-10 minutes. When ready to serve, stir in the reserved, chopped bacon and top with chopped parsley.