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In this video tutorial, the presenter discusses essential elements to include in a services business contract and reviews a one-page contract used in the early days of their business. Key points include the basics of contract formulation and effective tools for quickly obtaining legally binding signatures. The presenter offers a free contract template for viewers to use in their services business and encourages them to engage with the video by liking, subscribing, and commenting for more content. Additionally, a recommendation for Signaturely, a tool for managing contracts, is provided, with links available for both the contract template and the tool.