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In this tutorial, Jim Hart, founding attorney at Hawthorn Law, discusses the importance of an operating agreement for your LLC. He emphasizes that the operating agreement serves as a contract between the business owner and themselves, particularly for single-member LLCs. Hart provides insights into common mistakes entrepreneurs make when forming an LLC, highlighting that neglecting to create an operating agreement is one of them. He encourages viewers to learn more about operating agreements and their significance for legal protection and business growth. For further information, he refers to another video addressing these entrepreneur pitfalls.