Drill between four and six ½ holes in the bottom of the barrel to create additional airflow. This will improve rain drainage, but mandates occasional scooping out of ashes around the base of the burn barrel.
It doesn't hurt to add more holes up the side (but they are not necessary) unless you add so many the metal drum becomes unstable.
Place two cinder blocks in the desired barrel placement spot.
Sit the 55-gallon drum on top of the cinder blocks.
Use tin snips or a steel saw to cut the hardware cloth and metal sheeting covers to fit - if you are using them.