Put a saucepan on medium heat.
Pour in the bourbon and let it cook for 2 minutes.
Add ketchup, brown sugar, and honey.
Stir until mixed well.
Add Worcestershire sauce, apple cider vinegar, and Dijon mustard.
Sprinkle in smoked paprika, garlic powder, and onion powder.
Stir to mix everything well.
Add black pepper, salt, and liquid smoke.
Let the sauce cook for 10 minutes.
Stir sometimes until it thickens.
Take it off the heat and let it cool.
Strain the sauce if you want it smooth.
Store it in a sealed jar in the fridge.