"But it's happened before, we've been down this road before with Andre Gray, Sam Vokes, Danny Ings, Charlie Austin. These are the challenges."
Burnley are now bottom of the table, although they are just a point behind Newcastle and have games in hand over both the Magpies as well as fellow drop candidates Norwich and Watford -- the Clarets' next scheduled opponents.
"I think we've got a strong group, that group mentality is going to be important going forward and there'll be a possible view of the market as well, obviously," said Dyche of Burnley's transfer window options.
Wood has moved for a reported £25 million ($34 million) and the Clarets boss added: "It's a double-edged sword," Dyche said. "We didn't want to lose Woody, there's no two ways about that, but on the other hand there's a lot of comments that it's a lot of money for that player etc.
"But money doesn't solve everything. It gives you a better option in recruitment but you've still got to get the right players and January is still a tough window. These are the realities. It's done now and we've got to move forward."
As for how he felt about Wood's move, Dyche said: "I've got no angle on Chris at all. He's a professional footballer who's done very well for the football club. An opportunity arose, he's thought it through and decided it's right for him and that's football.
"There's absolutely no question marks in my mind over Chris at all for what he's done here, the goals he's scored, the way he's performed, the way he's conducted himself and the way he's attempted to conduct himself here."