Mix the Rancher's Rub

1. In a mixing bowl, stir together the chili powder, paprika, salt, sugar and pepper.  Transfer to a large, shallow glass or ceramic pan

Prepare Steak

1. Remove steak from refrigerator about 40 minutes before cooking
2. Lay steak in the pan containing the Rancher's rub.  Press rub into each side of the steak to cover completely
3. Lightly tenderize steak on both sides with a meat tenderizer, mallet or small heavy skillet and discard any remaining seasoning in the pan
4. Set steak aside to marinate at room temperature for 2 hours (or 24 hours in the refrigerator)

Grill the Steak

1. If steak was marinated in the refrigerator, bring to room temperature 40 minutes before grilling
2. Prepare a charcoal grill or gas grill or preheat the broiler and position a rack 4" from the heating element.  The coals should be medium-hot for the charcoal grill. The burners should be on high for the gas grill
3. Grill or broil for about 8 to 10 minutes. Turn using tongs and cook the other side for 8 to 10 minutes for medium-rare, or until desired degree of doneness.  Let rest 5-10 minutes before serving. (Charcoal Grill: 8-10 minutes each side; Gas Grill:  6-7 minutes each side)