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In this video tutorial, the speaker emphasizes the importance of having a service agreement before starting work on a contract, especially for newcomers. Upon landing a contract, companies typically send various paperwork demands, including vendor agreements, insurance information, EIN numbers, and W-9 forms. Newbies, eager to start working and earning money, may quickly fill out and submit these documents without considering the need to protect themselves. The speaker warns against this oversight and highlights the necessity of establishing a service agreement to safeguard one’s interests before commencing work.