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In this tutorial by Colton from Custom Excel Spreadsheets, he guides users on creating a quote form for their business using a blank Excel spreadsheet. The first step is to open and save the spreadsheet to prevent losing any work. Colton suggests entering generic information at the top, including the company name, address, and contact details, as well as specifying the recipient of the quote. The focus is on establishing a reusable template, so specific details can be filled out later. Colton emphasizes that formatting can be addressed later, and the primary goal is to outline the essential elements to be included in the quote form.