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In this video tutorial, the speaker discusses essential elements that should be included in a services business contract. They review a one-page contract used during the early days of their business, outlining basic components and tools for quickly obtaining legally binding signatures. The tutorial promises a free contract template for viewers, encouraging them to like, subscribe, and comment for more content. Additionally, the video introduces a tool called Signaturely for managing contracts. Viewers can access the free template and the tool through links provided in the video description.