In a saucepan, combine all the ingredients - ketchup, brown sugar, apple cider vinegar, Worcestershire sauce, molasses, Dijon mustard, smoked paprika, garlic powder, onion powder, chili powder, salt, and pepper.
Stir well to combine all the ingredients.
Place the saucepan over medium heat and bring the mixture to a gentle simmer.
Reduce the heat to low and let the sauce simmer uncovered for about 15-20 minutes, stirring occasionally, to allow the flavors to meld together and the sauce to thicken slightly.
Taste the BBQ sauce and adjust the seasonings according to your preference. If you prefer a spicier sauce, add hot sauce or a pinch of cayenne pepper.
Remove the saucepan from the heat and let the BBQ sauce cool.
Store the BBQ sauce in an airtight container in the refrigerator. It will keep well for several weeks.