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In this video tutorial, the host invites Joel Kaplan, a successful agency owner and CEO of Agency Lab, to discuss the essentials of creating a business contract. Viewers are encouraged to watch until the end, as Joel goes through a comprehensive contract template, highlighting necessary clauses and modifications. Joel shares his background, explaining that he previously scaled his own Social Media Marketing Agency (SMMA) to seven figures, reaching $300K monthly. The tutorial aims to educate agency owners on crucial elements for contracts, ultimately supporting them in building and scaling their agencies effectively.