To prepare a steak tips with mushroom sauce recipe, you'll first need to prepare the steaks. Cut the tips off the top of each steak and place them on the cutting board. Place the mushrooms in the bottom of the pot and cover with water. Bring the water to boil, then reduce the heat to medium-low and simmer for 10 minutes. Remove the pan from heat and add the wine. Add the thyme, salt, and pepper to taste. Simmer for an additional 15 minutes, or until the liquid has reduced by half.