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In this tutorial, Colton explains how to create a quote form using Excel spreadsheets. He begins by opening a blank spreadsheet and saving it to prevent data loss. Next, he suggests entering generic information such as the company name, address, phone number, and the recipient's name to establish a template. Colton emphasizes the importance of creating a reusable template that can be filled out with specific details later. He reassures viewers that initial formatting isn't crucial as they can refine it later, focusing instead on determining the key elements to include on the form.