The Forest boss is looking to build a side capable of competing in the Championship let alone League One and has the budget to do so according to chairman Nigel Doughty.
So far though no new faces have arrived at the City Ground and Megson has said: "It (relegation) is hindering us because we know the type of team we want to put together.
"It needs to be a Championship team because you don't want to get into the situation where you are making lots of changes at the end of every season.
"But it is not something that you can do in the space of a summer. It might take quite a while."