The Northern Irishman is yet to add to his Wanderers squad since the end of last term, with one target Craig Morgan moving to neighbours Wigan instead.
Lennon needs a goalkeeper – as both Adam Bogdan and Andy Lonergan have already found new clubs at the end of their contracts – while further reinforcements are needed to compensate for the losses of Craig Davies, Matt Mills and Jermaine Beckford.
However, the Trotters manager has assured supporters that new players will be arriving soon now the wage bill has been significantly trimmed.
“We’ve identified and continue to identify players who I believe will make us better,” Lennon told the club’s official website.
“We’re not far away from one or two and that excites me.
“It is a challenging time, but it can also be very rewarding, for both myself as a manager and the team, if you find the right player.
“I’m excited. We’re doing a lot of hard work in the background to try and make things happen and we’ve got a good idea of where we are.
“We’ve cut the wage bill and are in a good position. There are players out there who we know will improve us and we will get there.”