Puncheon signed for Saints in February 2010 but spent much of the following two years on loan at Millwall, Blackpool and Queens Park Rangers.
The 26-year-old has cemented his place in the Southampton team this term and looks certain to stay at the club until 2016 after a period of uncertainty.
But Puncheon believes it is important to be pragmatic on whatever situation arises in the game.
"It's football and weird things happen," Puncheon said. "You have got to make the best out of any situation.
"It went well at Blackpool, not so well at QPR, but I'm now very happy at Southampton.
"I think you make mistakes as a player and as a human being, I've made mine, learned from them and am now playing well and enjoying my football."