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In this tutorial, Colton from Custom Excel Spreadsheets demonstrates how to create a business quote form using a blank spreadsheet. He suggests starting by saving the file to prevent data loss. The initial step involves 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 formatting at this stage. The goal is to outline the essential information needed on the form, with formatting adjustments to be made later.