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In this video tutorial, the speaker discusses essential elements to include in a services business contract. They review a one-page contract used in the early stages of their business, outlining the basics needed in a contract and introducing tools for quickly obtaining legally binding signatures. The video promises a free contract template for viewers to begin signing clients and encourages engagement through likes, comments, and subscriptions. Additionally, viewers can access a tool called Signaturely for easier signing processes by following provided links. Overall, the tutorial aims to simplify the contract process for service businesses.