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The speaker discusses the importance of creating comprehensive business plans, even when not actively seeking funding. They emphasize that they are preparing a storage project and have also planned to purchase a property in North Carolina with cash. The speaker uses business plans as a method to organize thoughts, ensure thoroughness, and maintain diligence, treating the process as if presenting to an external party. They find this approach beneficial for accountability and detail, stating it helps them to "cross their Ts and dot their Is." The speaker mentions that, having worked from templates and completed several business plans, the process is efficient and a valuable practice.
