In a medium-sized sauce pan, combine butter, beef broth, onion powder, and garlic powder. Bring to a boil, stirring occasionally.
Reduce heat and bring to a simmer.
In a small bowl or liquid measuring cup, combine cornstarch and water, stirring until well combined.
While whisking the broth CONSTANTLY, slowly add cornstarch mixture to the saucepan. I like to pour in about a tablespoon at a time to gauge consistency. You may not need all of the cornstarch mixture, add only until desired consistency is reached.
Add beef bouillon (or Kosher salt-- I just like the depth of flavor the beef bouillon adds as compared to straight up salt) and pepper to taste.
Allow to simmer 2-3 minutes. Serve over potatoes, rice, poutine, or your favorite beef dishes.