I would begin by writing the induction hypothesis as:
$$\sum_{k=0}^n\left({n \choose k}\frac{1}{n^k}\right)=\left(1+\frac{1}{n}\right)^n$$
We can see this is simply a statement of a particular case of the binomial theorem. As such, we will find the following 3 identities useful:
[box=blue]$${r \choose 0}=1\tag{1}$$
$${r \choose r}=1\tag{2}$$
$${k \choose r}+{k \choose r-1}={k+1 \choose r}\tag{3}$$
where $(k,r)\in\mathbb{N}$ and $r\le k$[/box]
So, the first thing we want to do is show the base case $P_1$ is true:
$$\sum_{k=0}^1\left({1 \choose k}\frac{1}{1^k}\right)=\left(1+\frac{1}{1}\right)^1$$
We can see this simplifies to:
$$2=2\quad\checkmark$$
So, we restate our induction hypothesis $P_n$:
$$\sum_{k=0}^n\left({n \choose k}\frac{1}{n^k}\right)=\left(1+\frac{1}{n}\right)^n$$
What do you suppose our induction step should be?