The 45-year-old moved up from his role in Spurs' youth setup to replace Andre Villas-Boas in December, eventually leading the club to sixth in the Premier League, but his tenure was littered with rumours that he would be replaced at the end of the campaign, despite signing an 18-month contract at White Hart Lane.
While Sherwood admits that chairman Daniel Levy's decision to dispense with him came as no surprise, he is keen to use what he learned in north London at another club before long.
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"It's obviously a disappointment to lose your job, a job I thought I'd done reasonably well in.
"I have to respect the decision of the club. It's a massive club and bigger than any manager that comes in so I fully respect their decision."
"It was a massive learning curve, my first opportunity to manage," Sherwood added.
"I've seen it all - wins, draws, losses, a few tantrums and the sack, which I didn't want to see, so I've experienced a lot in five months and certainly learnt a lot.
"I have to see if another door opens and onto the next, as they say.
"I like doing it. For anyone to want to do that job, [they] must be crazy but I knew what I was going into.
"It occupies your mind totally. I really liked it and really enjoyed it and I can't wait to get back in."