The winger returned from injury over the weekend in the goalless draw with Stoke and believes that despite the disappointing result, there are positives to take from the game
The English midfielder made a 20-minute cameo in his first appearance back after a aggravating a hamstring problem, and admitted that it was a game Liverpool should have won.
"There was a bit of frustration in the dressing room after the Stoke game," Cole told the club's official website.
"We felt we should have won the game with the chances we had. The defence was great today, the build-up play was fantastic and the lads competed really well. I think the team has grown.
"There's a lot to work on but we have got to take the positives out of today; we didn't get beaten and we kept a clean sheet. Now we just need to kick on.
"The only criticism of us that I would have was that we didn't stick the ball in the back of the net. We have two weeks now to work on it and we're looking forward."
Liverpool have made their worst start to a league season in over 100 years, having won only once in seven games, and manager Brendan Rodgers has faced criticism.
But Cole thinks that it is just a matter of time before they get back to winning ways and backed the fans to support the team.
"The fans have been great," he added. "They are patient and very intelligent, they have seen some great football here over the years and they know what is needed. They know what the club is renowned for and that is sticking together through everything.
"Hopefully we can get three points at home to Reading and then we can go to Goodison [Park] and get a result [against rivals Everton]."
Liverpool's profligacy has been a concern in recent weeks, but now Cole is back from injury he will be hoping to help fire the Reds up the league table.
"It was brilliant to get back," he stated. "You're always nervous with hamstring injuries in terms of the first time you come back in. But I felt good and I have two weeks now to work hard and get back up to a high level of fitness."