Blues legend Lampard returned to Stamford Bridge in the summer of 2019.
A group of young stars helped the Blues to flourish, with academy graduates stepping up, but a different approach is being taken in 2020-21.
Timo Werner, Hakim Ziyech, Ben Chilwell, Kai Havertz and Thiago Silva will all have vital roles to play this season while Malang Sarr is expected to go out on loan.
"I loved the nurturing past year, but I never wanted us to become an academy club", he told Sky Sports.
"I never wanted us to become an "academy club", because those stories are great for five minutes and those debuts you are handing out are really nice".
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"When you see the injection of players and what they can bring - they have all brought personality with them already - that should bring a level of competition that lifts the squad to new levels".
"We have to show that on the pitch, but my feeling and my senses say that the players are feeling that [competititon] and it's my job as the manager to take us forward".
"I probably mentioned the transfer ban quite a lot past year, and maybe I felt that was some of the reason we were 30 points behind the top two teams". To come fourth previous year was a big achievement and it certainly felt that way with the competition around us.
Getting the players to gel in his line-up will be a challenge as history confirms that clubs signing a glut of high-profile players often struggle to fit all the pieces of a new-look jigsaw together, with Lampard believing he is merely playing catch-up on his rivals this summer.
'What we've done is come off a (transfer) ban and try to address the situation and try to improve. It's something we had a long look at a year ago.
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"It feels good because it has been work, it's what you set out to do". "Because I think when you talk about the owners of clubs, I don't think it matters what line of business they come from, we're talking about some very wealthy owners of clubs in the Premier League". There's no point in doing the maths too much with it - we know Liverpool have spent at a high level, they have an incredible coach and have incredible players. "We've made positive moves, now it comes down to work and whether we can show it on the pitch".
Chelsea boss Lampard, however, empashised that the objective at a club like Chelsea is always to win and recruitment is part of it.
"I was less annoyed with it, I found it more, slightly amusing, I would say", said Lampard.
Dimitar Berbatov is backing Chelsea FC to coast to a 4-0 win over Brighton and Hove Albion in their Premier League opener on Monday night.
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