Creating a Strapi plugin allows developers to increase the functionality of the CMS, making it more flexible and customizable. Before starting, it's essential to plan, considering factors such as the problem being solved, clear vision, and choosing between TypeScript or JavaScript development. The process involves creating a new plugin using `npm run strapi generate` or `yarn strapi generate`, then deciding on features like a homepage, settings page, and API communication. It's crucial to visit the Strapi marketplace, forum, and Discord community for research and potential collaboration. Developing plugins requires maintaining updates, features, patches, and including documentation, such as a README.md file, to ensure ease of usage and maintenance. The Strapi community provides valuable resources, including the design system, to help developers create plugins that meet their needs.