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In this tutorial, Erin and Emily from E-Squared Photography aim to simplify the concepts of contracts and invoices for those new to running a photography business. They encourage viewers to watch until the end for a special offer and emphasize the importance of understanding invoices and contracts. The first key piece of advice they provide is to open a separate checking and savings account specifically for business transactions, discouraging the use of personal accounts for business finances. They invite viewers to subscribe for more photography tips and notifications about future videos.