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In this tutorial, Colton from Custom Excel Spreadsheets explains how to create a quote form for a business using a blank spreadsheet. First, users should open a new spreadsheet and save it to prevent data loss. The initial step involves entering generic information at the top, including the company name, address, and contact details, as well as indicating who the quote is for. Colton emphasizes the importance of creating a reusable template that can be filled out with specific details later. He mentions that formatting is not a concern at this stage, as the focus is on setting up the content layout for the quote form.