Powell steered Town to 16th place in the Sky Bet Championship this term – their highest finish in 15 years – and following recruitment talks with chairman Dean Hoyle wants to guard against “standing still”.
The former Charlton manager told the club’s official website: “In the last few seasons in the Championship we have finished on similar points and positions.
“Our objective is to be much better than that. I don’t want us to stand still.
“If you stand still you’re not going to progress anywhere and that’s when your rivals will surpass you. I don’t want that to happen to us.
“I’d like us to have a push next year. I’m not saying were going to be top six, but I think we owe it to ourselves to do the best we can and make progress up the league.”
Powell, who wants to complete his summer recruiting by the end of June, added: “The utopia is to have them all done by June 30, but I know that doesn’t happen.
“We’d like to get them lined up, but often out-of-contract players want to leave their options open for as long as possible.
“We all – fans included – need to be patient and get the right players, not the first available ones.”