Sherwood inherited a large squad from Andre Villas-Boas after the club's summer spending spree in the wake of Gareth Bale's record transfer to Real Madrid.
Seven new players arrived at White Hart Lane, including Paulinho, Chrisitan Eriksen and Erik Lamela, but some have found first-team football difficult to nail down, with Nacer Chadli, Etienne Capoue and Lewis Holtby - who was signed last January - all linked with moves away.
Sherwood says he has grown attached to the squad since his promotion to head coach, but has held talks with technical director Franco Baldini about those he would be prepared to let leave.
When asked if he was willing to let players go, he said: "Yes, absolutely. As long as they're the players I don't want to take us forwards, then I'm happy (to sell them).
"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."
Central midfielder Capoue, who arrived in a £9million deal from Toulouse in the summer, is reportedly a target of Napoli after falling behind Academy product Nabil Bentalab in Sherwood's preferred starting XI.
"I think Franco might be working in the background regarding a lot of transfers," Sherwood added. "I've heard nothing concrete. He's a new player so he's obviously one that I've read a lot of speculation about.
"We have never had an issue between us. The fact is I'm still getting to know some of these new players and I know the other ones better."
Spurs are unlikely to bring anyone into the club in January, with Sherwood happy to work with those players he already has.
"If we brought in another player now, would he be settled by the end of the season?" he added.
"You might get lucky with one or two but the risk over reward might be too great for us."