The Clarets have secured promotion from the Championship on a small budget, and Dyche has vowed that they will continue to be stringent with their spending.
He told Sky Sports News: "We started about a month ago to say the stats are telling us we've got every chance of going up and we started to open lines of communication with clubs and agents softly - and maybe with the board to say 'what are we going to do?'
"There will be key meetings over the next 10 days to two weeks with the chairman to talk about where the finance goes. It's fair to say we won't be signing a £12m player so we'll have to shop wisely and according to what we can do because the club has to be safeguarded beyond the team.
"But I'll make it clear - we absolutely want to be competitive in the Premier League. The numbers are massive if you want to buy players with Premier League experience and we can't go to massive numbers. We'll go to big numbers in our world but they won't be big numbers in the grand scheme of the Premier League. We'll have to make sure we are fighting in the right market for the right players."