The Toffees have slumped to the bottom of the Premier League table in the opening six games and remain winless, attracting plenty of criticism.
Some of that has come from past players, including Sharpe, who believes the major problem lies in the attacking third where Cahill is spending more time than he should have to.
“I think the way we finished last season everyone was full of optimism. That hasn't been the case and you have to look at the final third and the striking department; that's where we've let ourselves down again,” he told Sky Sports News HD.
"Tim Cahill has been asked to do a job there to the best of his ability, but when you're missing someone of the calibre of (Louis) Saha, it is going to have an effect.
"You never say never, but I honestly don't think we're talking relegation battles here - there's far too much quality in the side.
"…I don't think we're playing badly, it's just a question of getting that first win under our belt and then we can kick on from there.
"I'm not worried. We've got a fantastic squad of players."