Combine the lime juice, soy sauce, chili powder, honey, garlic powder, onion powder, cayenne pepper, salt, and black pepper in a bowl. Mix well to create the marinade.
Add the sliced beef to the marinade, ensuring each strip is coated thoroughly. Cover the bowl and refrigerate for at least 2-4 hours, or preferably overnight, to allow the flavors to meld.
After marinating, remove the beef from the refrigerator and let it come to room temperature.
Preheat your oven to 160°F (70°C) or use a food dehydrator according to the manufacturer’s instructions.
If using an oven, place the marinated beef strips on a wire rack set over a baking sheet to catch any drips. If using a food dehydrator, arrange the beef on the dehydrator trays.
Slowly dry the beef in the oven or dehydrator for 4-6 hours or until the jerky is firm and dry to the touch. The time may vary depending on the thickness of the strips and your drying method.
Once dried, remove the jerky from the oven or dehydrator and let it cool completely.
Transfer the cooled jerky to an airtight container. It can be stored at room temperature for up to 2 months.