In a mixing bowl, combine the olive oil, lime juice, garlic, hot sauce, salt, and chopped cilantro.
Using a paring knife, pierce the steak.
Add the meat to the bowl and mix with the other ingredients to coat the meat.
Cover the bowl with plastic wrap and refrigerate for around 3 hours to marinate the beef.
In another mixing bowl, combine the onion, chili powder, and a little olive oil, and then mix the ingredients well.
Slice the green and red bell peppers (Capsicums) into strips.