Canterbury signed Potter while he was still a student at St. Gregory's, Campbelltown. In only his second year of first-grade, Potter became the first fullback to win the Dally MPlayer of the Year award. He is a member of Canterburys' 1984 Premiership winning team in their 6-4 win over Parramatta. A second premiership followed when Canterbury defeated St. George, 7-6 in the 1985 Grand Final at the Sydney Cricket Ground.
Potter broke his leg in 1986 and struggled to regain his form at Canterbury. He signed with St. George in 1989 and later became team captain. In 1991, Potter won his second Dally MPlayer of the Year award. He played fullback for the Dragons in the 8-28 Grand Final loss to the Brisbane Broncos in 1992.
The following season Potter was captain of St. George in their 6-14 loss to Brisbane in the 1993 Grand Final.
Potter retired at the end of the 1993 season but signed to play for one of the four new teams introduced for the 1995 season, the Western Reds, going on to play 21 games for the Perth based team before retiring for good at the end of the 1996 ARL season.
Following his retirement as a player in 1996, Potter started his coaching career as assistant coach for the English Super League team, Bradford Bulls, alongside Matthew Elliot. He remained there until 1999 when he took over the coaching position for the New South Wales Under-17 squad, coaching them to consecutive wins over Queensland.
Potter coached St. George Illawarra's Premier League side for four years before being appointed in February 2006 as Head Coach for the French rugby league team Catalans Dragons, succeeding Steve Deakin. Potter coached the team to the 2007 Challenge Cup Final and in 2008 was named Super League coach of the year.
In May 2010 he announced that he is to leave St. Helens at the end of the 2010 season. In July 2010 Potter signed a 2-year contract to return to Bradford Bulls, this time as head coach, commencing 2011. Despite the club being placed in receivership in 2012, the team was on the verge of making the semis as Potter remained as unpaid coach. "I think I served above and beyond what I needed to do there," Potter said . "I felt obliged to do that. It has made me a better coach. The reasons I want to coach aren't financial but because you love the game."
In October 2012, NRL team West Tigers confirmed that Mick Potter would be the head coach for the 2013 and 2014 seasons. With papers reporting that he had been endorsed by the club's players, Potter said, "I am very happy to be here, there's not many jobs like this. I have served a long apprenticeship and I think I am ready."