Heading into its mid-season bye, GWS is winless through 12 games amid plenty of talk the club is set to table an enormous offer to out-of-contract Hawthorn superstar Buddy Franklin.
The Giants have an ambitious shopping list planned for the end of the year, chasing a key forward, a key defender and an experienced ruckman.
Sheedy said it's vital the right decisions are made, citing the Brisbane Lions' ill-fated decision to sign Brendan Fevola to a big-money deal ahead of the 2010 season.
"We've got to get players, there's no doubt about that, and we'll get them," Sheedy said after the loss.
"But don't panic and get the wrong ones.
"I think sometimes that's what clubs do and I've seen clubs grab at straws and not really get it right.
"You probably saw that with Brisbane and Fevola. They just never got it right."
Despite the fact the losses are piling up for Sheedy in his 29th and final season as a head coach, he insisted the decision to help start the Giants has been one of the most enjoyable of his career.
But whether or not it snares Franklin, the next period for the club will be pivotal to its long-term standing, according to the 65-year-old.
"Buddy Franklin? Well we just need players," he said.
"If we don’t get Buddy Franklin, we'll get someone else. That's OK. Whoever is available.
"We need rucks, we need key backs, we need another key forward probably to assist until we get some of these boys up and running again like (injured young key forward) Jonathon Patton.
"But don't rush it and make a mistake. Don’t panic because you're worried about the scoreboard.
"It takes a long time to build an AFL club and you've got to get it right."
Sheedy is also taking plenty of enjoyment out of a story such as 18-year-old Zac Williams, who was picked up in the rookie draft last year and played his fourth senior game on Sunday, kicking his first goal.
"I don't think he'll ever want to leave the Giants because he would love the Giants for the opportunity he's been given," Sheedy said of the teenager from Narrandera in southern NSW.
"The little time I've had with him, I think he'll be a good player."
James Dampney is a reporter for AFL.com.au. Follow him on Twitter: @AFL_JD