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In this video tutorial by E-Squared Photography, Erin and Emily aim to simplify the process of handling contracts and invoices for new photography business owners who find the business side overwhelming. They promise viewers a clearer understanding of how to create and send invoices and contracts to clients by the end of the video. The pair emphasizes the importance of separating personal and business finances by opening dedicated checking and savings accounts for business transactions. Viewers are encouraged to subscribe to the channel for additional photography tips and tricks and to stay until the end for a special surprise.