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In this video tutorial by E-Squared Photography, Erin and Emily aim to simplify the concepts of contracts and invoices for new photography business owners. They acknowledge that navigating the business aspects can be overwhelming and promise to clarify these topics by the end of the video. Viewers are encouraged to stay tuned for additional valuable resources. The hosts emphasize the importance of separating personal and business finances by advising viewers to open dedicated checking and savings accounts for their photography business. They also invite viewers to subscribe for more photography tips and future content.