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The speaker initially struggled with writing business plans, associating them with schoolwork and feeling unsure about their effectiveness. They believed that they didn't know how to create a business plan that would work for them. However, the speaker eventually learned how to write a practical business plan, shifting their perspective to one where they looked forward to creating it each year. In the video, they discuss two types of business plans: the detailed version that requires significant time investment and is reviewed monthly, and a simplified one-page business plan that distills essential information clearly and concisely.