The departure of important players like Tom Jordan, Henco Venter, Sebastian Cancelliere and Jack Mann over the summer, plus a tighter playing budget, fuelled speculation that a frustrated Smith could also be headed to the Scotstoun exit.
Clubs in England and South Africa, and the Welsh international set-up were among the possible destinations but, ultimately, Smith decided to commit his future to Glasgow by signing a contract extension to 2028.
With the new season due to kick off when Warriors host the Sharks on September 26, Smith says patience will be needed as new signings establish themselves and academy players come through.
"Every job has its frustrations," Smith told the BBC Scotland Rugby Podcast. "It doesn't matter if you sell paint, it's the same story.
"Yes, budget is always a problem. Coaching beats the budget up to a point. Unfortunately, if the plant gets too big for the pot, usually the plant must be either planted in another pot or it dies. Or we must keep it trimmed down.
"It's important for us to bring the next young players through and see if we can't convert some of these academy boys into pros next year. That will lift our number.
"What's important for me is that the current process is only in year one, it's a start. It's not a year seven or a year eight project.
"From my side, I'll have to be patient if I believe that this was year one. I think this year, starting year two, this current young group and the way the academy is set up at the moment can help us.
"If everybody, including our supporters, have patience with that, I think we can maintain a very good record."