Collaborative product development is an approach that involves customers, employees, and industry partners in the product creation process and beyond, aiming to drive value through their feedback and ideas. Companies can leverage their customers by sending surveys or running polls to find out what people would like to see developed next, conducting user interviews, or creating a customer advisory board. Leverage colleagues by hosting hackathons, giving staff more autonomy in their day-to-day operations, and dogfooding - using the product or service themselves to gather feedback from employees. Companies can also leverage partners through co-marketing collaborations and co-product development, sharing industry contacts and new insights. By fostering inclusive communication internally and externally, companies can create an environment that generates breakthroughs and drives positive outcomes.