1. Open the terminal, create the "quotes-generator-api" directory, and initialize the project with npm.
2. Install required dependencies and devDependencies.
3. Organize the project with folders: "config," "models," "routes," and "controllers."
4. Set up the database connection and initialize the model.
5. Create "index.js" as the entry file and use the provided scripts in "package.json."
6. Run the commands: npm run db:init and npm run start.
7. The API will be accessible at localhost:3300 with various routes for handling quotes.

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