On Thursday, Singh sacked Henning Berg only 57 days and 10 games after appointing the former Rovers crowd favourite. Berg's record of one win during this period came on the back of Steve Kean's deeply unpopular spell in charge that saw the club relegated to the npower Championship in May.
Despite winning at Barnsley, Blackburn lie 15th in the table - eight points shy of the play-off places.
Speaking to BBC Radio Five Live's 606 programme, Singh hinted he may be ready to grant the wishes of large sections of the club's support by appointing a candidate with a proven track record but offered no guarantees.
"Most certainly, that (experience) is something that we are looking at," he said. "I am in conversation with a couple of very, very experienced managers. But again we have to accept there's no secret formula. There's always the one who didn't work out."
One that certainly did not work out was Berg and Singh accepted responsibility for getting that decision wrong, while standing by the call to terminate the 43-year-old's reign in its infancy.
"Hindsight is very good but at the end of the day, all decisions whether right or wrong will only be proven in due time," he said. "Unfortunately our results were not very encouraging, performances were not the best and you've got to decide how long can you put up with that.
"When you make a decision you always think you make the right decision but things sometimes don't work out so there's nothing out of the ordinary. It was 10 games, let's look at it that way from a football angle. Ten games is a lifetime, it can decide the future of a club for many, many years.
"I'll put up my my hands and say if I got it wrong, I got it wrong. But it's not the end of the world. You still have to think there are aspects of the club which have progressed."