Prepare the Steak: Pat the beef chip steak dry with paper towels to remove excess moisture.
Season: In a small bowl, mix salt, black pepper, garlic powder, onion powder, and smoked paprika. Rub this seasoning blend evenly over both sides of the steak.
Heat the Pan: In a large skillet or cast-iron pan, heat olive oil over medium-high heat.
Sear the Steak: Place the steak in the hot pan and cook for 2-3 minutes per side or until browned and cooked to your desired doneness.
Add Butter & Worcestershire Sauce: Reduce heat to low, add butter and Worcestershire sauce, and baste the steak for an additional minute.
Rest the Steak: Transfer the steak to a plate and let it rest for 5 minutes before slicing.
Garnish & Serve: Sprinkle with fresh parsley and serve with your favorite sides.