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In this video tutorial, the speaker discusses essential elements to include in a services business contract, using a one-page contract from their early days as a reference. They highlight the basics necessary for creating effective contracts and introduce tools for quickly obtaining legally binding signatures. A free contract template is offered for viewers to begin signing clients, and the speaker encourages audience engagement through likes, subscriptions, and comments. Additionally, a specific tool called Signaturely is mentioned for streamlining the signing process, with links provided for both the template and the tool. The session emphasizes the importance of well-structured contracts in service-based businesses.