If you’re just trying to get the paper done, you’ll write the first draft. Maybe you’ll even hand that it as the final copy too.
If you’re a GOOD writer, you’ll revise and write the final draft separate.
If you’re a GREAT writer, you’ll do the first draft. You’ll revise it, then maybe you’ll revise it again, making two rough drafts before the final.
If you’re a WONDERFUL writer, you’ll do more than that.
If you’re a MAGNIFICENT writer, you’ll know when to put the pen down and stop making changes.