Hughes splashed out the cash on players such as Gareth Barry, Carlos Tevez, Emmanuel Adebayor and Joleon Lescott in the summer and is not expected to spend that sort of money in January.
City impressed at the start of the season but has now suffered five consecutive draws.
“We start preparing for each transfer window almost immediately one closes,” he said. “That is a process that goes on right through the year.
“It is not something that starts a couple of weeks before the transfer window opens. It is an ongoing process.”
“It has been evident in the year that we have worked together that this is a long-term plan,” he added.
“It is not going to happen overnight. The owners are very understanding of that. They are excited by how far we have progressed in a short space of time. But they know it is a long-term thing.
“We have put a platform in place to ensure we have success in future.”
