The 2015-16 Premier League champions have struggled for points in the early stages of this term, having lost three of their four matches.
Leicester currently sit 17th after Saturday's 2-1 defeat at home to Chelsea but Schmeichel insists they are not allowing any panic to set in yet.
The stopper believes the Foxes have been handed a tough start, already playing Arsenal, Manchester United and Chelsea, and he believes they have competed well in most of their engagements.
Schmeichel said: "For us, if we look at the games that we have played, yes we have lost three of them but we have lost to three top sides.
"But we haven't been a million miles away in the games. It has been small margins that have made the difference.
"The Arsenal game was a bit of a freak game. United were very, very good against us.
"Obviously yesterday we missed a one-on-one and 40 seconds later we were 1-0 down. N'Golo has a speculative shot that takes a slight defection and it was just out of my reach.
"So these small margins haven't quite gone for us yet but I think overall when you look at our play we have got more than enough reason to be optimistic."