The 62-year-old, who has spent time at the helm of Juventus, Inter, Roma, Fiorentina and Napoli in a lengthy career, believes a good sense of humour is vital to survive the pitfalls of the Italian top flight.
Although, he maintains it is the best training possible for any coach.
"Once you have coached in Italy, you can coach anywhere," he told L'Equipe. "In Italy, a coach is like a skydiver who doesn't know if his parachute is going to open. The secret is serenity and good humour."Monaco are unbeaten from their opening 11 games since their return to Ligue 1, and can draw level on points once more with Paris Saint-Germain should they win against Lille on Sunday.
Ranieri, however, says his side's goal this season is Champions League qualification, rather than a concerted push for the title.
"The Championnat is the most important competition," he told a press conference. "The objective is making the Champions League.
"On Sunday against Lille I want to see the best Monaco. Lille press high, [and] have defended well with only four goals against, but our philosophy is to win."