well...spending money is a very good way!
ok, there is 3 main things to improve..Intake, Fuel and Exhaust. here's a few things you can do:
Air
1) Filter - The first main objective is to get air into the system. So, wit a few mods, you will notice an immediate and rather large step in performance. It all starts at the filter. There are various ones, but the 2 best ones are the Diblas and the BMC. Both are sealed induction kits, and so prevent heat absorption from the engine (especially in the summer). The BMC CDA intake, probably the better option is well worth the £130 or so.
2)Inlet - there is so much restriction with the standard inlet, with the airbox on the left and the throttle body over on the right of the engine, there is a long way for the air to go, and a good chance it heats up along the way before reaching even the lower inlet! So, the best one is a Diblas. Worth every penny. Sits atop the lower inlet and takes the air in from the left and puts it straight into the engine. TB is moved and sits just before the inlet, so drasticly reducing the travelling distance of air and so increasing the response and power of the engine. Other similar options are the Lexmaul and the Mantzel. But if you can afford to, the Diblas is your best bet!
Fuel
There are a few options with the fuelling that can be tinkered, and if you have opted to run the Diblas suggested above, then an adjusted set-up in the fuel mixture will get the best gains! A Re-map is the best option. A couple of hours on a rolling road with someone who knows what to look for and how best to pull the max from your engine's potential. Either a re-map of the standard software or the aftermarket 'chipping' of the ECU will work. Both will have to be done on the RR, but like i say, well worth it.
The other (and rather big and expensive) option, and probably the ultimate engine mod, if of course the throttle bodies. These will allow you to hit the best part of 160bhp from the x16, and are certainly the best option over any other. If you are going to do this, then an engine rebuild is probably worth thinking about. If you are spending that money on the TB's, then you want to use them to the maximum potential. This means uprating the standard internals. Cams, pulleys, valve springs, lifters and of course all the bottom end bearings and such. You can spend the best part of £4k, and then be getting 200bhp from your engine.
Exhaust
And the last bit is of course getting rid of what you've burned. If you're upping the in, you will have to efficiently get it all out. A good qualilty manifold, linked to a sport/de-cat and then a decent cat-back system will allow the most efficient means of ridding the engine of its unwanted leftovers.
Hope that helped, sorry its a bit of an essay but anyone can flick thru and get ideas from it all. i wont have everything and there are plenty more suggestions. Depends how much money and time you want to spend on it really.