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In this video tutorial, the speaker discusses essential elements to include in a services business contract, referencing a one-page contract used in the early stages of their business. They outline basic components necessary for a contract and highlight tools for quickly obtaining legally binding signatures. Additionally, the speaker offers a free contract template for viewers to utilize in securing clients. Viewers are encouraged to like the video, subscribe, and leave comments for more content. Links for the free contract template and the tool Signaturely are provided for audience access. The video aims to simplify the contracting process for service-based businesses.