Preheat your oven to 350°F (180°C). Place the diced bread in a bowl and pour the milk over it. Allow the bread to soak until it is soft, but avoid letting it become too mushy. This will help bind the meatloaf and add moisture.
In a large mixing bowl, combine the soaked bread (with milk), ground meat, egg, garlic powder, Worcestershire sauce, barbecue sauce, dried basil, salt, and black pepper. Mix everything together by hand until all ingredients are evenly incorporated. I find mixing by hand helps keep the texture tender and not overworked.
Shape the meat mixture into a loaf and place it into a greased oven-proof glass container, loaf tin, or baking sheet. In a small bowl, mix together the ketchup, barbecue sauce, and brown sugar to create the glaze. Spread half of this glaze in an even layer over the top of the meatloaf.
Bake the glazed meatloaf in the preheated oven at 350°F (180°C) for about 50 minutes, or until it is cooked through and the internal temperature reaches at least 160°F (71°C). I sometimes spoon a little extra glaze over the loaf halfway through baking for extra flavor and a sticky top.
Remove the meatloaf from the oven and let it rest for about 10 minutes before slicing. This allows the juices to redistribute and makes for neater slices.