Essendon meets the Western Bulldogs at Etihad Stadium on Saturday night in a game Watson conceded was almost a knockout final.
A win to the eighth-placed Bombers would go close to cementing their finals position, but a loss to the Bulldogs could leave their top-eight hopes in tatters with only games against West Coast (at Patersons Stadium) and Port Adelaide (at Etihad Stadium) to come.
Watson, in his second year as captain of the club, said the team was aware it didn't want to rely on final-round results to decide its fate.
""In the pre-season we had a look at the draw and thought if we're a good enough side it would be a great benefit to have the bye before the finals started,"" Watson said at Windy Hill on Friday.
""But what we are fortunate about at the moment is that we have the opportunity to control our own destiny and that is something we're well aware of.
""We don't want to put ourselves in a situation where we're sitting by a TV on the last weekend wondering whether we're going to be there or not,"" he said.
The Bombers have made the finals only once since 2004 (in 2009), when they were beaten by 96 points in an elimination final against Adelaide - and Watson said the players understood the importance of beating the Bulldogs in the context of their season.
""There's a lot of time spent in the off-season wondering about what you should have done, and we just emphasised to the group that this is the time when you can actually have the opportunity to do something about it,"" he said.
""We're pretty aware of where we're sitting on the ladder and what we need to do to hopefully make the finals and that includes winning this week. There's plenty at stake for us.""