well, I guess if you want to compete with it, you gotta look at the competition venue a bit. What is your style?
Personally, I don't like creative kata that are full of gymnastics and all kinds of unrealistic, yet physically demanding techniques that have little combat or self-defense value, but are impressive to an audience. Seems that is the direction that a lot of creative kata are going these days. For myself, that kind of thing doesn't impress me. It just turns martial arts into a performance art, and for me, that's not what it should be. Some competitions cater to this kind of thing, kind of the "XMA" kind of thing, while others do not.
But that's my opinion. Maybe you and/or your teachers feel differently about it.
However, I have played with creating my own kata in the past. I simply built them out of a series of self-defense techniques found within the curriculum of our system. Maybe you could take a series of one-steps or three-steps or something, and build them together into a kata. Or you could build it upon a certain theme, like kicks only, or handstrikes only, or blocks only, or defenses against a particular type of attack. Or it could be a series of your own favorite techniques, whatever those may be.