In a mixing bowl, whisk together the olive oil, lime juice, chili powder, smoked paprika, cumin, garlic powder, salt, and black pepper. Coat the steak evenly with the marinade. Let it rest for at least 20 minutes to soak up the flavors.

Rinse the rice under cold water until the water runs clear. In a saucepan, combine the rinsed rice, water or broth, and 1/4 teaspoon salt. Bring the mixture to a boil, then reduce the heat to low. Cover and let it simmer for 15 to 18 minutes. Once cooked, let the rice rest for 5 minutes before fluffing it with a fork.

Heat a tablespoon of olive oil in a skillet over medium heat. Add the sliced bell peppers and onion. Sauté for 5 to 7 minutes until the vegetables are tender-crisp. Lightly season with salt as you cook.

Heat a grill pan or skillet over medium-high heat. Cook the marinated steak for 4 to 5 minutes on each side for medium-rare, or to your desired doneness. Once cooked, let the steak rest for 5 minutes before slicing it thinly against the grain.

Divide the cooked rice into bowls. Top each bowl with sliced steak, sautéed vegetables, avocado slices, halved cherry tomatoes, and chopped cilantro. Finish with a squeeze of fresh lime juice over the top for added flavor.