The Bombers captain sat on the interchange bench with his left arm in a sling for the remainder of his side's 18.10 (118) to 12.16 (88) win at Etihad Stadium on Sunday, which strengthened the Bombers' hold on a top-four position.
Watson told Fox Footy after the game that the initial prognosis was four weeks on the sidelines.
The Power's fast, attacking and creative game under coach Ken Hinkley challenged the Bombers in the second half but they withstood the pressure without the influence of Watson, who was considered a favourite to win back-to-back Brownlows before the injury.
"The one positive out of tonight through that injury was a lot of other players stood up and took the slack from a leadership point of view. It's disappointing but it gives other players an opportunity," he said.
David Zaharakis ran with the ball and gave some drive. Jake Melksham's good form continued and he looked more confident and composed with the ball in his hands.
Former Bomber Angus Monfries also helped to spark the Power into action, kicking three goals in 11 minutes to cut the deficit to seven points. He roved packs, snapped kicks and proved difficult to contain.
Essendon steadied, but the Power were never out of it, one of the defining characteristics of their 2013 campaign.
Hamish Hartlett kicked two beautiful goals, Robbie Gray was dangerous and emerging star Chad Wingard won a few one-on-ones against veteran Dustin Fletcher.
The Power scored five consecutive behinds to draw within 12 points with five minutes to play, before Brendon Goddard capped the win with a left-foot snap, leaving Bellchambers to boot the final two goals of the game to grab a career-best haul.