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In this video tutorial, the host discusses the essential elements of a services business contract, referencing a one-page contract used during their early days in business. Key points include the basics required in a contract and tools for quickly obtaining legally binding signatures. The host emphasizes the importance of having a robust contract to secure clients, offers a free template for viewers to use, and encourages interaction by asking viewers to like, subscribe, and comment. Additionally, the video introduces Signaturely, a tool for signing contracts efficiently, with links provided for easy access to both the contract template and the tool.