(CNN) -- Liverpool manager Roy Hodgson said his side's 1-0 away win over Bolton Wanderers on Sunday, which saw the English Premier League club move out of the relegation-zone, could be the catalyst for a Reds' revival this season.
A goal in the 86th minute by Argentina striker Maxi Rodriguez clinched an important victory for Liverpool, only their second in the ten league matches played since August.
And although Hodgson acknowledged his team had more work to do, he said the win could be a turning point after Liverpool's disappointing start.
"I have been as devastated as everyone else by the lack of results but I have never stopped believing in hard work and believing the work will pay dividends," the 63-year-old told reporters at the Reebok Stadium.
"It's just a question of time scales and it is a rebuilding job. We have still got a lot of work to do but it's just nice to see a little bit of light at the end of the tunnel."
Hodgson replaced Rafael Benitez as manager of the north English side in July, after Liverpool failed to qualify for the European Champions League -- a competition they have won on five previous occasions, most recently in 2005.
The Englishman's short period at Anfield has been testing time after the transfer of star midfielder Javier Mascherano to Barcelona and a protracted change in ownership of the club.
However, Hodgson felt the win finally will help to improve Liverpool's form on the pitch.
"It's a step in the right direction and the players know they have got the ability to dig in, which is a good thing to know.
"I felt it was a very gritty performance against a team that is never easy to play. We were well organized and I congratulate our team and I am really pleased we got the victory."
Hodgson also confirmed he would meet Liverpool's new owners, NESV -- the New England Sport Ventures, led by the owner of baseball's Boston Red Sox John W Henry -- later in the week.
"We have contact with each other on an almost daily basis because he is very committed and very anxious to learn more about the club, what needs to be done, and how the club should move forward.
"It will be nice to meet the owners. It's very positive and I'm delighted we are doing it on the back of a victory rather than a defeat."
Ahead of Liverpool's clash with top-of-the-table Chelsea at home next weekend, Hodgson was also quick to defend the form of Spanish striker Fernando Torres who missed an opportunity to score in the first half against Bolton, and has recently been criticized by the British media for his lack of goal-scoring this season.
"It will come for Fernando. He has been very good in training and he works very hard at his game.
"All we can do is encourage him to keep working like he is and to let him know we think he is a magnificent player, and over the course of the next 30 or so games he will do a good job for us, without a shadow of a doubt."
But Hodgson added that his side could be boosted by the return of injured striker Dirk Kuyt and defender Glen Johnson when they take on the London-based club on Sunday 7 November.
"I think Dirk will start training with the team again towards the latter part of the week and then it's a question of seeing how well he can cope, and how fit he can be after a three-week lay-off.
"Johnson should also be available against Chelsea."