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In this video, agency owner Joel Kaplan discusses crafting a contract beneficial for agency owners, sharing key components and necessary modifications. He emphasizes the importance of watching the entire tutorial to grasp the detailed explanations. Joel introduces himself as the CEO of Agency Lab, a coaching program that assists owners of social media marketing agencies (SMMA) in establishing their businesses and scaling them to significant revenue milestones. He shares his experience of successfully running an SMMA that peaked at 300K per month, providing credibility to his insights on creating effective contracts tailored for agency success.