Sean Dyche called for "reality to the storyline" in the wake of Everton's 4-0 thrashing at Tottenham and explained "there is no money" to change the situation in the final week of the transfer window.
Everton's latest defeat came a week on from their season starting with a 3-0 loss at home to Brighton.
"Until I'm told different, there isn't any finance to go and change things. This is what we are," Dyche said.
As it happened: How Everton's misery continued at Spurs
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Everton achieved Premier League survival last term despite off-field issues, including being deducted eight points for breaching Profit and Sustainability Rules. But hopes of a more positive season this time around have already been hit by two heavy losses.
The club - amid the latest round of takeover talks - have also sold key man Amadou Onana to Aston Villa, while regulars Jarrad Branthwaite, James Garner, Nathan Patterson and Seamus Coleman are all out injured. Ashley Young missed Saturday's defeat in north London due to suspension.
Crystal Palace part-owner John Textor met with Everton owner Farhad Moshiri in Liverpool this week, as the two men looked to progress a possible takeover of the Toffees by the American.
Speaking after the loss at Spurs, Dyche outlined his frustration at the club's struggle to build on progress they made last term, saying: "We changed the storyline last season, then in the summer we sell big players. You're trying to build a squad and the challenge starts again. It's a never-ending challenge at Everton Football Club.
"There's so many stories, so much noise every day and it's not very often about the football."
The Everton boss called for perspective in the assessment of his side's first two results of the season.
"Is there a reality it's tough to come down here [to Spurs] anyway? Yes. Is there a reality it's even tougher when you've got a thin squad and you haven't invested like these have? Yes.
"Does that mean they win? No. I've shown that many times before, the players I've worked with... But you have to make games like today work in your favour and we didn't have enough to do that today.
"We finished strongly last season. We sell a player [Onana] who's growing and maturing and become a very important player. And then we bring in other players who we've got to start the process with again and make them grow and mature and become important players. It's a cycle that keeps going and going and going.
"That's just the reality of the club and I always try to work on realities. There's plenty of myths about it - the latest one being, it's the last season at [Goodison Park] so we're going to be in Europe. And I went, 'how's that then? So what happened to the last three seasons? Do you think they weren't trying to be in Europe?'
"There has to be some reality to the storyline and I've tried to bring that."
'It's a strange situation here'
Reflecting on the Tottenham game, Dyche admitted he was frustrated his side disappointed early on - and conceded the error from Jordan Pickford for Spurs' second was a significant blow.
"We can't continue to make mistakes at this level," he said. "It's difficult and we are stretched, that's a fact.
"It's a strange situation here and it has been here for a number of years. In my 19 months, we build something and then we have to go back down the hill again to remind ourselves of the challenge. And then we all pull together and we do it again.
"What about reacting to a game at 0-0? Taking responsibility at 0-0? It's easier to take responsibility when you're 1-0 or 2-0 down.
"We've shown before how positive we can be. We know they're a good outfit. We started a bit subserviently. But the first goal… just backing off, letting people run into the box. The second is impossible to legislate for. Then you're in that risk or reward of opening up."
Dyche called on his players to once again show the spirit which has seen them escape relegation in recent seasons. "Let's take it on, let's grow with that mentality. Yet again we're written off immediately."
Alarm bells already ringing for woeful Everton
Sky Sports' Declan Olley at the Tottenham Hotspur Stadium:
Just two games into the new Premier League season and Everton are already in a world of pain.
Zero points, zero goals scored and seven goals conceded leave Sean Dyche's side rock bottom of the table after thrashings by Brighton and Tottenham.
The Toffees are making unwanted history having lost their first two games in a top-flight season by three or more goals for the first time. At the other end of the pitch, they have only had two shots on target so far - one in each of the defeats.
The alarm bells are already ringing at Goodison Park - their last season at the ground before they make the move to the new stadium at Bramley-Moore Dock. The club cannot begin life there with Championship football, which brings extra added pressure to this campaign.
If this dismal form continues, though, then second-tier football could well become a reality, with a belief the promoted teams this year are stronger than last season's.
However, Dyche remained defiant and upbeat in his post-match press conference that his side can turn things around with key players still to return.
But what Dyche does not need is his leading stars making silly mistakes, as goalkeeper Jordan Pickford did for Spurs' second with an embarrassing blunder.
It was an error that sums up Everton right now.