4 Steps to Finishing Your Novel: Taking a Sledgehammer to Your Shiny New Draft

I thought my short story / novella / “whatever the correct term might be” was ready a few months ago. Then after a “Sorry, we are not accepting submissions at the moment” reply I let it rest in the cloud until two weeks ago.
When I read it again, I didn’t get past the first paragraph when I found something that needed to be rewritten. So I took a really heavy sledgehammer to it, and it became better, well in my opinion anyway.
Btw…
I’ve been reading an eBook, and I’m sure it is selfpublished, because it’s full of strange sentence structures, typos, odd thoughts etc. My first impression was: This is a first draft, why the hell is it published?
I belong to the group of people who if they like a book, read it in a day, and this book has now been unfinished for a month, since I can’t read more than a page or two before going nuts with the mistakes and risk destroying my tablet with red ink.