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In this tutorial by Colton from Custom Excel Spreadsheets, he demonstrates how to create a quote form for a business using a blank spreadsheet. He advises starting by saving the file to avoid losing work and suggests entering generic information such as the company name, address, phone number, and the recipient of the quote. Colton emphasizes the importance of setting up a reusable template rather than focusing on initial formatting, mentioning that details can be filled in later. The goal is to create a basic structure that can be refined and used repeatedly in the future.