Place the trimmed beef in the freezer for 1-2 hours until partially frozen but not solid. This makes slicing much easier. Using a sharp knife, slice the beef against the grain into 1/4-inch thick strips for chewy jerky, or 1/8-inch for crispier texture. Trim any remaining fat or silver skin from each strip.
In a large bowl or measuring cup, whisk together soy sauce, Worcestershire sauce, brown sugar, garlic powder, onion powder, black pepper, and liquid smoke (if using) until the sugar is fully dissolved.
Place the beef strips in a large zip-top bag or non-reactive container. Pour the marinade over the beef, ensuring all pieces are coated. Remove as much air as possible from the bag and seal. Refrigerate for 12-24 hours, flipping the bag every few hours for even coverage. Minimum marination time is 6 hours.
Remove the beef from the marinade and pat each strip dry with paper towels. This helps the smoke adhere better and promotes even drying. Discard the used marinade.
Preheat your smoker to 165°F. Add your choice of smoking wood—hickory or mesquite for bold flavor, or apple and cherry for milder smoke. Ensure the smoker maintains steady temperature between 160-180°F throughout the smoking process.
Arrange the dried beef strips directly on smoker racks in a single layer without overlapping. Leave space between strips to allow air circulation. If using multiple racks, note that you may need to rotate them halfway through smoking for even drying.
Place the racks in the preheated smoker. Smoke for 4-6 hours, checking for doneness starting at the 4-hour mark. Rotate racks halfway through if your smoker has hot spots. The jerky is done when it bends and cracks slightly but doesn't break completely, with an internal temperature of at least 160°F.
Remove the finished jerky from the smoker and allow it to cool completely to room temperature on wire racks. Once cool, store in an airtight container or vacuum-sealed bags. Room temperature storage: 1-2 weeks; refrigerated: 1-2 months; frozen: 6+ months.