Reid who was sacked as City manager in January 2005, has taken over England's most southern Football League club who have dropped into League One following relegation last season.
Speaking to BBC Spotlight, Reid said: "We've got to aim to get out of this league as soon as we can and that's pressure.
"I'm up for it, and this will be a great honour to manage the football club, but even better if I get them out of this league next year."
He added: "When you manage a club like Plymouth Argyle pressure comes into it, and when you play for a club like Plymouth Argyle pressure comes on you to win matches."