Speaking to the Herald, the 47-year-old gave an in-depth view from his perspective.
“We could sign players no problem. If that’s what fans want, but we are trying to sign good players who will make a difference to the team and that is really hard,” he said.
“If there is a good player, it isn’t just us who want them- there are five or six other clubs wanting them too.
“We’re working hard at it and it feels quite close but it isn’t a simple process.”
He added: “If we can’t get players that can really make a difference to the team and really elevate the squad and the club, then to me, it is my duty to be a good steward of the money we have available and not to just to spend it for the sake of it.”
The head coach was still positive about bringing in the quality he is after, despite the current position of the side.
He said: “It’s the January window which always brings more difficulties in general.
“With Covid, teams are hanging on to more players than they normally would just in case they need cover.
“Additionally we are in League 1 so in some cases that might make it a little bit more difficult but the conversations we are having with people are good.
“It’s a massive club and I think people still want to come here because of the size of the supporter base, but I would be lying if I didn’t believe the past few years would maybe make a player weary.
“That’s why I only want to bring in players of a really high standard.”
He added: “When I came here, I had heard all about the numbers of players signed beforehand and it is astounding really.
“I have a real affinity with Falkirk and I need to ensure the club moves forward positively and correctly, we can’t just bring in players for the sake of it.”
With the rearranged trip to bottom club East Fife next up for the Bairns, Rennie said he was relatively happy with the progress made so far since joining the club in December.
“We’re really trying to get everyone on the same page and I think you can see improvements throughout the team,” he said.
“We’re playing better than before but we need to keep working to get to a point where we put in high level performances every week.
“So far I’ve seen really good things, and some really bad things. The last game was the perfect example of that.
“This weekend what I want is consistency.”
A supporter of the club since his teenage years, the head coach also mentioned the Falkirk fans ahead of the match.
He said: “The big away crowds will really help us in these matches I think.
“At the game that was called off the fans really got behind us and it made a difference.
“Having them back is a big boost for us. I hope the fans have seen enough to really get behind us because I think we are close to turning a corner.”
Michael Ruth and Declan McDaid both departed the Bairns this week, returning to their parent clubs after loan spells with the club, and Rennie spoke about the decision to not keep them on.
He said: “Those two players haven’t really had a chance to train under me due to injuries and other factors.
“Since I’ve come into the club I didn’t really get a chance to see them enough unfortunately.
“My evaluations of them could only come from before I joined the club so I just felt the right call was for them to go back to their parent clubs.
“We’ve got a lot of similar players to them here in the squad and I didn’t think we needed so many numbers there, looking at the squad there are other areas I think need a wee bit of support more.
“The balance of the squad has to be better and we are working on that.”