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In this video, the speaker invites Joel Kaplan, CEO of Agency Lab, to discuss important contract elements for agency owners. Joel shares his experience, having scaled his own SMMA to $300K per month. He emphasizes the importance of having a comprehensive contract and guides viewers through a "Plug and Play" contract created for them. The video explores key modifications and essential components that should be included in the contract, ensuring agency owners understand what to prioritize as they scale their businesses. Joel aims to help entrepreneurs start and grow their agencies effectively. Viewers are encouraged to watch until the end for complete insights.