So you're sitting in the same gray cubicle, thinking the same thought - “some day, I'll start my own business, and break away from this hell.” But then you start to realize how much it costs, and if you're really serious, eventually you come up with a figure - “if only I had $200,000, I could start a business.”

The truth is – you don't need any money to start a business. I dropped out of the rat race completely 4 years ago with hardly a dime to my name, but I have managed to survive and even live my ideal lifestyle the entire time.

The biggest key to successfully running a boot strapped business is having a very low overhead – and dropping expenses is a big stumbling block for most would-be business owners. The best advice I can give you is cut all your expenses, and cut them now, according to your chosen lifestyle.

I enjoy travel, so obviously everything I do to cut expenses has to be in the interest of being portable. Obviously not everyone can go without a car or sharing an apartment – but this is why it is best to start a business before you have a family.

I don't have a car, which forces me to live in places with public transit, but it's cheaper in the end. I also live with room mates whenever possible, cutting the cost of an apartment in half or thirds. I also own very little, so if and when I move, it doesn't cost much.

My phone is through Skype, which gives me unlimited calling all across the U.S. for $60 a year (not per month – per year), so I don't have to bother with a cell phone. All told I only have to make about $500 a month in order to survive.

Even though I make a lot more than that now, I keep my expenses low just in case. Until I can throw a hundred grand at a problem without flinching, my expenses will stay this way too.

You can find out more about Patricia Mayo and her other projects at Mayobrains.com or ComHacker.org.