Preheat the grill to 350 degrees.
Chop the bacon into small pieces.
Combine the chopped bacon, salt, pepper, garlic powder, onion powder, paprika and brown sugar in a food processor. Pulse until the mixture forms a thick paste.
Scrape the paste out into a mixing bowl. Add the ground beef, breadcrumbs, milk, egg, Worcestershire, and mustard. Mix until the ingredients are evenly combined.
Form the beef mixture into a 12-inch loaf on a flat surface.
Carefully transfer the formed meatloaf directly onto the smoker grate.
Smoke the meatloaf for one hour, or until the internal temperature reads 150 degrees F on a meat probe.
Combine the barbecue sauce and ketchup in a small bowl. Spread the mixture over the top of the meatloaf.
Close the lid to the grill and smoke until the internal temperature of the meatloaf reaches 165 degrees F.
Allow the meatloaf to rest for 10-15 minutes before serving.