Broken your last small drill bit and you need a pilot or clearance hole in wood?
John from Bancroft, Ontario suggests simply taking a nail of the right size and poping it into your drill chuck. You will find that most chucks will permit the head of the nail to settle behind the jaws, allowing a good grip without having to cut off the head.
Make sure you have a straight nail and if you want to you could even file the flats on the end of the nail a bit to "sharpen" this drill.
It doesn't drill rapidly but it does work.