Leicester, who were on the brink of relegation last season, have been in fine form this campaign, and sit a lofty fifth in the table with 19 points after 10 games.
"First, the most important ingredient is team spirit and, second, they enjoy the training sessions. It is important when they know they can work hard, but also enjoy," Ranieri told reporters.
The manager said his players had to work hard to do everything right but also needed a sprinkling of luck.
Leicester will be hoping to bolster their claim for one of the European qualifying spots when they travel to face West Bromwich Albion on Saturday.
While the Foxes have kept only one clean sheet in the league so far, Saturday's opponents West Brom have six, more than any other team apart from leaders Manchester City, who also have six.
"All the Premier League matches are tough. It's good though -- it's an interesting season," Ranieri said.
"West Brom close all the space well, press well and counter-attack well. We must be careful if we want to win the match.
"(Manager) Tony Pulis has done a fantastic job and the team has a fantastic spirit," he added.
The 64-year-old Ranieri has also played down the chances of league top scorer Jamie Vardy, who has netted 10 goals in as many games, leaving the club anytime soon.
"It depends on the character of the player, no? Jamie is very focussed with us, he enjoys being with us," Ranieri said.
"He looks at Leicester and the national team (England) -- that is it. I think he is very focussed on us," added the Italian.
The former Monaco manager added that striker Leonardo Ulloa, who had been out for the last three weeks with a thigh strain, should be in contention after recovering from a hip injury.
"I think Leo Ulloa will be available. I didn't want to risk him (in the League Cup defeat at Hull on Tuesday) but I think he'll be available. I will check today," Ranieri said.
(Reporting by Shravanth Vijayakumar in Bengaluru; editing by Ken Ferris)
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