Spot on side of dice: pip (4)
I believe the answer is:
seed
'pip' is the definition.
(I've seen this in another clue)
'spot on side of dice' is the wordplay.
'spot' becomes 'see' (I've seen this before).
'on' says to put letters next to each other.
'side of' indicates taking the first letters (the letter from one side of the word).
The initial letter of 'dice' is 'd'.
'see'+'d'='SEED'
(Other definitions for seed that I've seen before include "one very much fancied" , "A plant grows from it" , "who is ranked highly" , "Kernel" , "- Pearl; - capital" .)