The 70-year-old rescued the Blues from relegation last season, sealing their Championship status with a crucial victory on the final day of the campaign.
However, since taking the job on a permanent basis over the summer, Redknapp has guided Birmingham to just four points from their opening seven league games.
The West Midlanders, who have brought in 14 new players, sit 22nd in the table having kept just one clean sheet this season and scored only three times in the league.
Redknapp, however, is confident that things are changing and that it is just a matter of time until they get the wins their performances deserve.
The former Tottenham Hotspur boss, whose side lost 2-0 at Leeds United in midweek, told talkSPORT: "You know when things just don't go your way in football?
"We've changed the team big time to what we had at the end of last season. We bought a lot of new players in who all arrived in the final week of the window, so it's a new team.
"We played great the other night at Leeds, we were excellent. We dominated Leeds, who are an outstanding team. We'll be alright. We'll be fine, I've got no doubts about that."
Up next for Birmingham is a league home game against fifth-placed Preston North End on Saturday.