The Reds have won only one of their first eight league games this season and only winless Bolton lie below them in the Sky Bet Championship table following the 5-1 weekend defeat to Watford.
"If we draw this game 2-2 are we just papering over cracks?" Flitcroft said after his side had conceded five goals for the third time this season.
"That's what I've got to ask myself as manager of the football club and I don't want to do that.
"We're not in denial. Players are not performing at the correct levels so we've got to do something about it and hopefully I'll get the chance to do something about it and readdress the balance of the squad.
"They're not tough decisions because they will be the right decisions. Every decision is made for the betterment of the football club.
"We don't make personal decisions, we make calculated decisions.
"We've signed players on good trust and those players at the minute, not just against Watford, but over five or six games this season, keep making the same mistakes and we keep getting beaten.
"I can't stand getting beaten, but we can't keep saying it might happen, we've got to design it so it does happen.
"Hopefully we'll get the chance to design a team that does win football matches.
"I've put a lot of love into these players and they've not let me down, but they've let the fans and the club down.
"They've all had an equal chance to stand out as Championship players and bring their qualities to the table and they haven't done that, so I've got to do something about it."
- Sports & Recreation