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In this video, Joel Kaplan, CEO of Agency Lab, collaborates with Arturo to provide a comprehensive guide on creating a contract for agency owners. The discussion highlights essential components to include in contracts and outlines necessary changes. Joel shares his background, including his experience in scaling his own social media marketing agency (SMMA) to seven figures, generating around $300K per month. The video emphasizes the importance of understanding contract details and encourages viewers to watch until the end for insights on effectively drafting their own agreements.