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A portfolio career like this is the dream of many entrepreneurs. Their plan is to start as many businesses as possible, on the basis that one of them will make them a millionaire.

When mentoring creative people I do my best to provide them some focus; they should concentrate on one business at a time, and employ some very tried and tested business practices, following Rangoonwala's example.

He grew up in Pakistan where his father was a serial entrepreneur with many different businesses. Rangoonwala studied at schools in Europe and developed an international perspective.

It was naturally expected that he would join one of the family businesses, so he found himself in Malaysia as CEO of a bulk liquid storage company and discovered some important lessons early on, centred on reliability, trust and honesty.

In his twenties and early thirties he had several roles in different countries, including the UK and Hong Kong, even driving a taxi at one time. There were always opportunities in the family businesses, but it was one that was turned away that caught his eye: burger buns.

Rangoonwala jokes that he was attracted to the business because of his fondness for fast food, but clearly there was much more to it than that. There was a market opportunity to address the rapidly-expanding food service business in Europe, and a way of storing dough for longer that would make good economic sense.

He needed funding, so went to the usual sources of capital, securing not the most advantageous terms. But his father saw that he was serious about this opportunity and bought out his initial investors, who departed happily with a quick return on their investment.

The rest, as they say, is history, and Rangoonwala's company Eurobuns was acquired for a tidy sum earlier this year by frozen bread product supplier Lantmännen Unibake.

You would expect Rangoonwala's next adventure to be in the food industry, where he had experience and contacts. But he had already become involved with the Swanbourne Group, which supplies purpose-built short-term student accommodation in the UK.

This model is based on continuing revenue, rather than appreciating long-term assets, unlike many property companies. I am sure this seemed like a poor model during the boom times; but in these hard times, when cash is king, it makes perfect sense.

He is also involved in P1, the power boating version of Formula One.

Formula One itself famously took a long-time to become profitable, so it was useful that Rangoonwala knew  how to play the long game.

The secret to his success is not about branding. There is little to link the three companies Rangoonwala is involved with, other than the personal brand of the man himself.

His success as an entrepreneur is not as the creator (he did not think up the ideas), but more in his skills as deal maker and trader. He is pitched new ideas everyday, but only pursues those where a deal is to be made, and where there are likely to be a multitude of trades or transactions down the line.  Deal makers and traders are well grounded; they understand markets very well, and have the gift of timing, the ability to do the right thing at the right time.

This may seem to some like a novel way of doing business, but it  is how family businesses have worked since time immemorial. Reputation and trust is everything, and in a family business it is common to give a big opportunity to a young family member,  to see quickly if they have what it takes.

Mike Southon is an international business speaker, best-selling author and entrepreneur mentor.  Contact him at mike@beermat.biz. 

"C Mike Southon 2008, All Rights Reserved"