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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 past, highlighting the basics and introducing tools for quickly obtaining legally binding signatures. The speaker also offers a free contract template for viewers to use in signing new clients and encourages engagement through likes, comments, and subscriptions. Additionally, they mention Signaturely as a useful tool for contract management, providing links for viewers to access both the template and the tool. Overall, the video aims to streamline the process of creating and signing contracts for service-based businesses.