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Michael discusses the importance of maintenance agreements for in-home service businesses, emphasizing that cash flow is essential for company sustainability. He highlights that maintenance agreements significantly impact a company's cash position more than other offerings. Despite their benefits, many service companies either do not offer maintenance agreements or doubt their profitability. Michael notes common misconceptions, such as viewing them as loss leaders or believing there isn’t enough time to manage them during peak seasons like fall and spring. He encourages a reevaluation of these attitudes to leverage maintenance agreements effectively for better financial health.