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In this video tutorial, Mitchell Losey discusses the importance of contracts for photographers and videographers just starting their businesses. He highlights the common scenario where a business owner engages with clients without discussing payment or services upfront, leading to awkward situations after completing a project. Mitchell emphasizes the need to establish clear communication regarding prices and client expectations before starting work. He encourages creators to address payment discussions early to avoid discomfort later in the process, suggesting that proper contracts are essential for professionalism and clarity in client relationships.