The Tigers recorded their first win at Saracens' StoneX Stadium for six years on Saturday to enter the break for autumn internationals second in the table, having lost only one of their six matches.
Former Australia and Argentina head coach Cheika has orchestrated a club revival and Leicester's resolve was evident in north London where they withstood a final-quarter fightback from Saracens to edge over the line.
"You don't get a trophy for second. You don't get trophies six weeks in and second in the table," Cheika said.
"I'm happy with the team, the connection in the dressing room, the commitment of the lads and the ability to get over hurdles. If that converts into the scoreboard and the table, then great.
"It was a good battle against Saracens. I liked the physicality in the game. We won some battles, lost some others.
"I like the way that, even when the momentum swung back against us, we put our flag in the ground and said we're not moving from here, we're going to win the game.
"We're enjoying our climb and the journey together. When things don't go our way I want the guys to get big.
"We're getting better, but you've always got to keep it real, take it from week to week and let the bigger picture take care of itself."
Both sides were missing their England players ahead of New Zealand's visit to Allianz Stadium next Saturday, but Saracens were also hit the loss of fly-half Alex Goode and prop Marco Riccioni to injury in the warm-up.
The Tigers had built a 15-point cushion when Springboks playmaker Handre Pollard rifled over a penalty heading into the final quarter, but Saracens responded magnificently with tries by Juan Martin Gonzalez and James Hadfield.
It left them trailing just 32-29 and with the wind their sails, but Leicester were able to secure field position and spent the closing minutes in enemy territory, preventing any further threats to their lead.
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