How to set up VirtualBox shared folders with Windows 7

Start by adding shared folders in settings before starting the VM:

Next install guest additions after windows 7 VM has started:

If you are using autoruns you will be asked to install guest addition. Otherwise open the cd rom drive and run installation. You will be asked to restart the VM when finished.

After restarting you should now find your shared folders under Network\VBOXSVR within the Explorer (windows key+E).