The first step is to identify the key competitors in the client's industry. This can be done by analyzing the competitive landscape and determining who the client's biggest rivals are. Once these competitors have been identified, the client can begin to target their talent and consider hiring individuals who have worked for these companies.

The bargaining power of talent refers to how much leverage a candidate has in the hiring process. This can be influenced by factors such as the candidate's skills and experience, as well as the demand for these skills in the market. By analyzing the bargaining power of talent, the client can determine what they need to offer in order to attract and retain the best candidates.

The threat of substitutes refers to the availability of alternative job opportunities for talent. If there are many other companies offering similar jobs, then the client may need to differentiate themselves in order to attract top talent. This could include offering competitive compensation packages, flexible work arrangements, or other unique perks that make the job more attractive than other opportunities in the market.