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In this video, host Arturo invites Joel Kaplan, CEO of Agency Lab, to discuss contract essentials for agency owners. They provide a free, comprehensive contract template and highlight important elements to include in agency contracts. Joel shares his background in scaling his own social media marketing agency to seven figures, emphasizing their ability to reach $300K monthly. Viewers are encouraged to watch until the end for detailed insights on necessary changes to the contract and critical components that agency owners must consider to ensure effective agreements.