The Blues are languishing in 11th place in the Premier League, without a win in their last five matches and on their worst run of results since 1993.
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That is despite spending more than £600million on talent in the last 12 months.
England star Sterling was the first signing of the Todd Boehly era, arriving from Manchester City for £47.5million with big expectations.
However, the 28-year-old has only managed seven goals in 33 appearances since joining west London club, struggling along with the rest of Chelsea's misfiring attack.
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"You can't have positives every day in life," Sterling told The Sun.
"Sometimes you have lows. I haven't been in this situation in my career so far but I am more than up to the challenge.
"We are disappointed when we come off the pitch and feel angry and disappointed.
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"There are times when we finish a game you just sit in the changing room looking into space because you can't understand what has just happened.
"It's tough to take. You are always trying to look for a positive solution.
"There will be conversations, players trying to come to terms with what has happened in the last ten minutes or so.
"It's not easy. The feeling of winning games week in, week out is one that everyone in the dressing room is used to. So it's what we enjoy and we want it back. To not have it this year is not the best."
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Nevertheless, Sterling has no regrets over swapping Manchester City for the Blues and takes some personal responsibility for the crisis.
"Performances haven't been at the level they should, mine included. I haven't been anywhere near my usual level," he added.
"But football can be cruel and the more you try to fix something the worse it gets. If you fixate on something it can get worse.
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"We need to look in the right direction and look to whoever comes in as the next manager to build for the future.
"We want the results and winning trophies to be the main attraction for the football club like it has been for so many years. That's why I came here, because of the rich history and with the new owners and new direction it was a no brainer. And I have no regrets at all.
"That's the beautiful thing. I enjoyed my time at my previous club and won a lot of trophies. But I like a new challenge and this is the challenge I signed up for.
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"It's a challenge I will overcome. It will taste even sweeter to win silverware coming from a moment like this than if you were winning every single week."