Heat oil in a large saucepan or Dutch oven over medium heat. Add potato pieces and coleslaw mix. Cook 5 to 7 minutes or until vegetables are softened, stirring occasionally. Stir in garlic.
Add vegetable broth and bay leaf. Reduce heat and simmer 10 minutes. Add beets. Continue simmering about 5 minutes or until potatoes are tender. Season with salt and pepper, as desired.
Serve topped with sour cream and chopped fresh dill, if desired.