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The speaker shares their initial aversion to writing business plans, associating it with a burdensome homework assignment from school. They felt unprepared and skeptical about the effectiveness of business plans. However, upon discovering a method that worked for them, their attitude shifted, and they began to look forward to creating business plans annually. The discussion will cover two types of business plans: the first involves a detailed, comprehensive plan that may take several hours to complete and is reviewed monthly. The second type focuses on distilling essential information into a concise one-page business plan.