Creating Outback Steakhouse Potato Soup is as simple as following these steps:

1. Prepare the Potatoes: Peel and dice the russet potatoes into small, even pieces.
2. Sauté the Onions: In a large pot, heat the olive oil over medium heat. Add the diced onion and sauté until soft and translucent, about 5 minutes.
3. Add the Potatoes: Add the diced potatoes to the pot and stir to combine with the onions.
4. Pour in the Broth: Add the chicken broth to the pot. Bring the mixture to a boil.
5. Simmer the Soup: Once the soup reaches a boil, reduce the heat to low and let it simmer for about 20 minutes, or until the potatoes are tender.
6. Blend for Creaminess: Use an immersion blender to blend the soup until smooth. If you prefer a chunkier texture, blend just half of the soup and leave some potato pieces intact.
7. Add the Cream: Stir in the heavy cream, garlic powder, onion powder, and season with salt and pepper to taste. Heat through until warm.
8. Mix in Cheese and Bacon: Add the shredded cheddar cheese and crumbled bacon to the soup, stirring until the cheese is melted and evenly distributed.
9. Taste and Adjust Seasoning: Taste the soup and adjust seasoning if necessary.
10. Serve Hot: Remove from heat and serve hot, garnished with sliced green onions and additional cheese or bacon if desired.

This straightforward approach will lead you to a taste of Outback Steakhouse right at home!