Part I: Big picture
The $\color{green}{\text{ess}}\color{blue}{\text{ence}}$ of the inductive proof is additive telescopy, which shines through when we view the problem in a more general setting.
Prove the following by induction:
$$\sum_{k=n_0}^{n}f(k) = g(n) \text{ for } n \ge n_0$$
Base case: Show that $\color{green}{f(n_0) = g(n_0)}$
Inductive step:
- Assume true for $n$, that is $\sum_{k=n_0}^{n}f(k) = g(n)$.
- Show that $\color{blue}{f(n+1) = g(n+1) - g(n)}$
This will imply that the statement is true for $n+1$, since
$$\begin{align}\sum_{k=n_0}^{n+1}f(k)=\sum_{k=n_0}^{n}f(k) + f(n+1) = \underbrace{g(n)}_{\text{from }1} + \underbrace{g(n+1) - g(n)}_{\text{from }2} = g(n+1)\end{align}$$
and it completes the proof by induction.
Remark: Notice how it gives us a straightforward algorithm to solve induction problems of this type. We just have to concentrate on proving two equalities (highlighted in $\color{green}{\text{co}}\color{blue}{\text{lor}}$ above), and the mechanics of the procedure takes care of the rest.
Part II: Small picture
In the given problem, we have $f(k) = k(k+2), g(n) = n(n+1)(2n+7)/6 \text{ and } n_0 = 1$, and the induction proof goes thus:
Base case: $\color{green}{f(1)} = 3 = \color{green}{g(1)}$
Inductive step:
1: Assume true for $n$, that is $\sum_{k=1}^{n}f(k) = g(n)\tag{1}$
2: Let $m = n+1$
$\begin{align}f(m) &= m(m+2) =m^2 + 2m\\\\ g(m) - g(m-1) &= m(m+1)(2m+7)/6 - (m-1)(m)(2m+5)/6\\&=m(2m^2 + 9m + 7 - 2m^2 - 3m + 5)/6\\&=m(6m+12)/6 \\&= m^2 + 2m\\\\\therefore f(m) &= g(m) - g(m-1)\\\text{i.e } \color{blue}{f(n+1)}&=\color{blue}{g(n+1) - g(n)}\tag{2}\end{align}$
We thus have
$$\begin{align}\sum_{k=1}^{n+1}f(k)=\sum_{k=1}^{n}f(k) + f(n+1) = \underbrace{g(n)}_{\text{from }(1)} + \underbrace{g(n+1) - g(n)}_{\text{from }(2)} = g(n+1)\end{align}$$
implies that the statement is true for $n+1$.