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Preheat your grill to 450ºF.
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In a large bowl, mix ground beef, ketchup, Worcestershire sauce, Tabasco, pepper, garlic powder, onion powder and salt.
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Form into 12 patties and lay out on a baking sheet lined with parchment paper.
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Push a shallow thumbprint into the middle each of patty. Set aside.
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Heat a teaspoon of olive oil in a cast iron skillet.
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Place the sliced shallots into the hot oil and cook on low heat stirring infrequently, but enough so that they don't burn.
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Once the shallots reach a slightly darker color and become soft and pliable (about 15-20 minutes), remove them from the heat. Set aside.
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Place the burger patties on the grill (direct high heat) and grill for 3-4 minutes per side with the grill cover down.
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Place the cheese over the burgers for the last minute of cooking, to melt the cheese onto the burger.
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Remove the burgers from the grill and let them sit for 10 minutes.
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Place the sliced buns, cut side down, onto the hot grill for 30 seconds to a minute until slightly browned.
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Place a burger into the bun, piling bacon, shallots, and BBQ sauce on top.
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Enjoy!