Manager Ronald Koeman does not expect to win trophies with Everton this season but will use the next two transfer windows to build a squad capable of challenging for honours in the future.
The Merseyside club, who visit champions Leicester City in the Premier League on Monday, are ninth in the table after claiming six wins in 17 games under the Dutchman.
"We need to invest not only in January but also in the next summer transfer window," Koeman told the Dutch broadcaster NOS.
"This is a project which is for the long term and it does not mean that you are fighting for trophies within six months of arriving at a new club."
Koeman signed defender Ashley Williams, goalkeeper Maarten Stekelenburg, midfielder Idrissa Gueye and striker Yannick Bolasie in the previous transfer window.
After visiting Leicester on Monday and bottom club Hull City on Dec. 30, Everton host Southampton on Jan. 2.
(Reporting by Hardik Vyas in Bengaluru; Editing by Tony Jimenez)