All team rebuilding for the rest of the season must take place in that one month spell and, with transfer negotiations so much more protracted nowadays, not least because of players' salaries playing such an important part in the overall figure, it will certainly be a tall order to pack the wheeling and dealing into that short space of time.
What is more, as transfer fees start to become more erratic, with most dropping but the top end of the market looking as if it is remaining astronomically high, getting the right player at the right price, not to mention setting the right fee for anyone that may be sold, will be a difficult task.
Nonetheless, Paul predicts some transfer activity at Upton Park and says: "I think it is important that we get a little bit of a fresh impetus from somewhere and I am sure there will be a few things changing.
"Glenn is working a lot of hours a day on looking at January and what can be done.
"The scouting and everything has continued throughout the window being closed with names being put in place but, as we are aware, we are not quite sure what money is going to be available so we might be a bit limited in what we are able to do.
"To be honest the feeling is that nobody is quite sure how busy or quiet the market is going to be. The finances throughout football are not flush, that is pretty evident.
"Clubs, right throughout the board - and that includes the Arsenals who have big projects ahead of them - may not be spending big.
"No one knows at what level the activity of the transfer market will be - but it certainly won't be what it would have been a year ago today, that is for sure.
"Market demands are set by a commodity being wanted and people willing to pay a certain price, and there are less and less people able to pay that price.
"But certainly the agents will be coming back to life as they have been very quiet - the phones will start to ring again, no doubt about that."