Of their opening seven fixtures, the Ospreys have lost four matches - that's three more than they did in the final seven matches of last term.
But while critics are suggesting the Ospreys' bubble may have burst, the mood within the Liberty Stadium squad is very different.
"Scott Johnson put it pretty well after we lost to the Dragons at home - we're pretty much in an identical spot to where we were last season," said Holah, who has featured in all bar one of this season's Magners League matches to date.
"Then we managed to come through strongly in the later months, when a side needs to be performing strongly.
"There are a lot of sides who come out for each season with a hiss and a roar but, as the season goes on, they become tired and become a different team.
"As long as we keep working hard and come through firing in that Christmas and New Year period, the season will work out as it should."
The Ospreys are in Anglo-Welsh Cup action this weekend as they take on English Champions Leicester Tigers at Bridgend.
And, with a host of players away on international duty, responsibility will lie with the region's fringe players ahead of a return to Magners League action the weekend after next.
The likes of Shane Williams, Lee Byrne, James Hook, Mike Phillips and Tommy Bowe will still be away with their countries when the Ospreys travel to Connacht on Friday, November 19 but Holah admits that, whoever features in Galway, the Ospreys need to stop the small mistakes to start winning big games.
"It's pretty difficult at this time of year, when you lose close to your full starting line-up and have to bring through a group of guys who haven't had too much rugby. But that isn't an excuse," added the former All Black flanker.
"I missed the game last weekend in Newcastle but, from the reports I read, we didn't appear to have played that badly. Apparently, we leaked a try at the start which left us chasing them, which isn't a great way to start.
"It's symptomatic of what's been happening in the games we've lost of late. We have been conceding tries that we shouldn't have been conceding. And that's been the difference between winning and losing those games."