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The speaker shares their initial dislike for writing business plans, comparing it to a school homework assignment that felt overwhelming and ineffective. They did not know how to write a business plan and doubted its usefulness. However, upon discovering a method that worked for them, their perspective changed, leading them to eagerly write their annual business plan. The speaker introduces two types of business plans: the first involves a detailed, extensive plan that requires significant time and is reviewed monthly, while the second is a simplified, one-page business plan that consolidates essential information.