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In this video tutorial, the host discusses essential elements to include in a services business contract. They will review an old one-page contract used at the startup phase, highlighting its basic components and providing tools for quickly obtaining legally binding signatures. A free contract template is offered for viewers to use in their own services business. The video encourages viewers to like, subscribe, and comment for more similar content. Additionally, a tool called Signaturely will be introduced, with links provided for viewers to access the free contract template and the tool discussed.