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In this video, agency owner Joel Kaplan, CEO of Agency Lab, is invited to discuss creating a contract for social media marketing agency (SMMA) owners. Joel explains that the tutorial will thoroughly cover the contract's essential elements and necessary changes. He emphasizes the importance of watching the video to learn about crucial contract features. Joel shares his background, detailing how he built his own SMMA to seven figures, achieving 300K per month, and outlines his current role in helping others start and scale their agencies. The video aims to provide a ready-to-use contract template for viewers.