First, cube your carrots and potatoes, and mince the garlic.
Heat the olive oil on low; meanwhile begin chopping your onion.
Once the oil is hot, add the garlic and brown for one minute, then add the onion and cook until caramelized (about 4 more minutes on low).
Add all the carrots and potatoes, and toss everything until evenly coated. Continue to stir regularly until the potatoes are just starting to crisp on the outside (about 10 minutes).
While that cooks, remove the top off your serrano pepper, and then mince it as small you can get it.
Once the potatoes are just starting to crisp, add the lamb, serrano pepper, rosemary, salt, oregano, basil, and any black pepper you'd like (I recommend ½ teaspoon). Mix everything evenly, especially ensuring that the ground lamb isn't in any large lumps.
Cook for 8-10 more minutes, or until lamb is fully browned and shows no more pink; the potatoes should be browned and the carrots softened, but if they're not, give it a couple more minutes.
Serve— and freeze leftovers— immediately; a little fresh basil on top adds a nice pop!