You are mistaken. The OP said it's a Record Power 8" Bench grinder. It will be the 'RSBG8' which is a capacitor start. You can download the manual from Record Power if you like, but there's no need to bother - I've just had to replace the capacitor in mine as it stopped working, and a failed capacitor as often as not is the cause. It's located in the base of the grinder. Induction motors on grinders run at a fixed speed and you can't compare them to sewing machine motors.
If you think a potentiometer (wired as a rheostat) will work on a bench grinder, by all means give it a try, but ride at your own risk. Generally when people get up to those sort of antics, all too often they end up doing is proving Darwin's theory of the non-survival of the stupidest. ('Red to red, black to black, throw the switch and stand well back').
If it was as simple as just popping a rheostat on a bench grinder to vary the speed, do you not think that by now most grinders would have one? That's not to say that purpose designed grinders with variable speed controls don't exist - clearly they do - (well not really grinders as such, but especially for sharpening woodworking and woodturning tools.) Tormek for instance or the Record Power WG250 Wet-stone grinder system which is adjustable from 90RPM - 150 RPM, but the motor and the controller are designed for that purpose:
WG250-PK/A 10" Wet Stone Sharpening System Package Deal (recordpower.co.uk)