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In this video, the host invites Joel Kaplan, the CEO of Agency Lab, to discuss an essential contract for agency owners. Joel shares insights from his experience running a successful social media marketing agency that reached $300K per month. The tutorial includes a detailed walkthrough of the contract, highlighting necessary changes and important elements that should be included. Viewers are encouraged to watch until the end to ensure they grasp all the critical points for creating an effective contract for their own agencies. Joel also explains that his coaching program helps agency owners start and scale their businesses to achieve significant revenue.