I've said it before, but it bears repeating - it's nearly impossible now with PSR restrictions to get a team promoted, then stay in the PL without doing a Forest and cheating. Martin Samuel wrote a good piece about it in The Times this week as well, with regard to the issue with relegation wage drops - no middling player at Brighton on 40-50k a week is going to say yes to a move to somewhere like Saints on a similar wage, but with a probable drop to 25k or something with the inevitable relegation.
So until such a point as the halfwits in the FA and EPL get a more sensible system in place, the only conceivable way of doing this (other than cheating) is by taking risks on both recruitment and managerial appointment. Getting out of the Championship as a relegated team is the 'easy' part (yes I know it's not easy per se, and there's always the risk of falling in the play offs, as per Leeds, but if you can get back up the following season it's not the end of the world, also as per Leeds).