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In this video tutorial, the importance of having a contract as a freelance social media manager is emphasized. The presenter discusses key components that should be included in a contract, such as pricing, start and end dates, and cancellation terms. The video will also address who sets the contract, the need for tools to send and sign the contract, and provide a real-life example of a contract used in their own work. Overall, the message is clear: having a contract is essential for defining expectations and protecting both the manager and the client. The presenter encourages viewers to subscribe and engage with the content.