Step 2: Drill the holes

Picture of Drill the holes
Using the hole saw in the drill press, drill holes all the way around the bucket, as close to the edge as possible, on your marked lines. (You could use a hand drill here, but the drill press makes it much easier.)

Then drill holes all the way around, near the center, then add a third set of holes in between the others.

You can go ahead and add another hole in the center if you wish, and you are done!