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In this tutorial by E-Squared Photography, Erin and Emily aim to simplify the concepts of contracts and invoices for those new to running a photography business. They acknowledge that the business side can feel overwhelming and promise to clarify how to effectively manage these aspects by the end of the video. Viewers are encouraged to subscribe for more photography tips. They emphasize the importance of keeping personal and business finances separate by opening distinct checking and savings accounts for business transactions. This foundational advice sets the stage for understanding the management of invoices and contracts in the photography industry.