Chief executive Jez Moxey insists it is now or never with regards to Wolves' current transfer targets.
Manager Mick McCarthy has been frustrated in his attempts to lure defenders Roger Johnson and Matt Mills to Molineux.
Birmingham are holding out for a fee in the region of £10million for Johnson while Reading want anything over £3million for Mills.
But Moxey has warned that if clubs cannot make up their mind whether to sell then he is ready to pull out of any deals and look elsewhere for potential new signings.
"We have got feelers out to a number of clubs - so we either start getting serious now or we move on," he said.
"We are now telling clubs to make a decision.
"We need to get things done and what we're saying is 'if you don't want to do business, we'll forget it and move on'."
Moxey is delighted to have completed the signing of Tottenham midfielder Jamie O'Hara and Swansea goalkeeper Dorus de Vries but he is eager to secure more reinforcements.
"We've done one deal for a high-class midfield player who, from the vibe we're getting within the game, will be regarded as a very astute piece of business.
"We're also delighted to have signed a quality goalkeeper who will provide the right competition (for Wayne Hennessey).
"But we need to concentrate on other, more pressing areas now."