Sherwood was handed an 18-month contract following the dismissal of Andre Villas-Boas, but that has not stopped rumours that the 44-year-old is just keeping Spurs hot seat warm for someone else.
Sherwood knows that plenty of high-profile managers who have a lot more experience than he does will be available in the summer.
One of those may well be Mauricio Pochettino, who was linked with the Spurs job in December.
The Argentinian confirmed this week that he will consider his position at Southampton at the end of the season following the exit of chairman Nicola Cortese, who was a close ally of his.
When asked whether he found the talk of him keeping the manager's seat warm for someone else fascinating, the Tottenham boss said: "It doesn't fascinate me - it's realism.
"If the results meet the expectation of the club, I will still be here. If they don't, I won't be.
"I am realistic enough to know the ambitions of this club are very, very high and the demands are high.
"I knew that before I took the job and I am just hoping I can do enough to keep the job in the long term."
After spending more than £100million on the squad last summer, Villas-Boas was told he had to deliver Champions League football this year.
Although Sherwood would not reveal the target Daniel Levy set him in December, only Champions League qualification will surely put a stop to the idea that the former Blackburn midfielder is on borrowed time.
For now Sherwood is paying short shrift to the idea that Pochettino could move to Spurs at the end of the season.
"I didn't know about (Pochettino being linked with Spurs). Am I being linked with the Southampton job?" he said with a smile.
Sherwood, who has won four out of a possible five league games since replacing Villas-Boas, thinks the Spurs job is on a completely different level to the one Pochettino is currently undertaking at St Mary's.
"The expectation at this club is far greater than they have at Southampton." he said.
"If Andros Townsend was at Southampton he would not have had nine loans - he would have had his development through the leagues there like Alex Oxlade-Chamberlain and Theo Walcott did. That is the market they are in."
Some of the players Tottenham brought in during their £107million splurge have looked like decent buys.
Paulinho, Christian Eriksen and Vlad Chiriches have all impressed while Roberto Soldado has scored 10 goals in all competitions, although half of them have been penalties.
The likes of Etienne Capoue, Nacer Chadli and January signing Lewis Holtby have found first-team starts hard to come by, though, and Sherwood admits he may sell some of his squad players in this window.
"Yes, absolutely," he said when asked if he was willing to let players go.
"As long as they're the players I don't want to take us forwards, then I'm happy (to sell them)."
Sherwood revealed that he has held talks with technical director Franco Baldini about who he would like to get rid of in the January window.
"We've had discussions, yes," he said.
"But it's sometimes a case of supply and demand. We've got fantastic players here at the club and if we were to lose no-one I wouldn't be shedding any tears, but you can only go with a certain amount of players and the pressure's on because it's a World Cup year for a lot of these players. It's important that they're playing.
"We can't guarantee that they're going to get maximum game time, but we certainly won't be leaving ourselves short."
Sherwood insists no player has complained to him about a lack of playing time, but as the month progresses, Capoue and Holtby may find themselves being edged out of the club, particularly now that Sandro is fit again.
The Brazilian could play at Swansea on Sunday following a one-month calf injury layoff.
Townsend is likely to play his first match since December 18 after he came through an Under-21 game against Newcastle on Tuesday.