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In this video tutorial, the speaker discusses essential elements to include in a services business contract. They review a one-page contract used in the early days of their business, highlighting key components necessary for a legal agreement. The speaker also introduces tools for quickly obtaining legally binding signatures. Viewers are encouraged to engage with the content by liking the video, subscribing, and commenting for more related videos. Additionally, a free contract template is offered, which can be accessed via a link, along with a promotional link for a tool called Signaturely to facilitate contract signing.