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The speaker initially disliked writing business plans due to feelings of inadequacy and skepticism about their effectiveness, reminiscent of school assignments. However, after discovering a method that worked for him, he grew eager to draft his business plan annually. He discusses two types of business plans: one that involves a detailed, comprehensive plan requiring significant time investment, typically reviewed monthly, and another that condenses essential information into a streamlined one-page business plan. This approach aims to simplify the process and enhance practicality.