The 38-year-old was unveiled as Limerick's new boss on Thursday, Taylor coming in as successor to Pat Sully, who was sacked in a surprise move after winning promotion to the Premier Division last season.
Limerick fans have been starved of success and the 2013 season will be their first time in the top flight since 1994, so there's no immediate pressure on Taylor, a former Drogheda United player, to win the league as he says he wants to build for the future.
"We do have targets. We have plans to be a Premier Division club next season. Success will come because of hunger and desire. When you have a committed bunch, success follows," Taylor said. "There are very few jobs around where the chairman has as much passion for success as Limerick's.
"People may have said the same about Pep Guardiola. If you are a manager with a desire for success then you have got to think about putting foundations down and not to be looking for a short-term fix.
"I am not looking at Limerick as a three-year job and that's me away. I have massive ambitions. I'm looking long-term, looking at bringing young boys through.
"I want players who have desire and ambition. You can spend €100,000 on a guy and he can be the wrong type. I'll do my background checks on someone and make sure they are the right person for the club."
Limerick have only a handful of players signed up for next season but Taylor says he has targets in mind, in Ireland and the UK but also in Spain.