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The speaker shares their initial dislike for writing business plans, likening it to homework from a school teacher. They felt unprepared and skeptical about the effectiveness of business plans. However, they eventually learned to create a plan that suited their needs, which made the process enjoyable. The discussion focuses on two types of business plans: a comprehensive, detailed plan that requires significant time investment and is reviewed monthly, and a simplified one-page business plan that distills essential information for easy reference.