The Collatz conjecture asks you to:
When '$n$' is the given number,
1) Divide $n$ by $2$ if the number is even.
2) Do $3n+1$ when the number is odd, and you will reach the series $4->2->1$.
Can we generalize this as:
1) Divide $n$ by $2$ if the number is even.
2) Do $m \cdot (n)+1$ when the number is odd...($m$ is any odd number)
Will this always work? If not, then why? The only possible implications I can deduce from this are that the value of the peak number in the resulting series of any number will vary drastically.
As said in the comments, the $5n+1$ problem is false since $13$ is periodic. This leads to the question of what is a suitable generalization of the Collatz conjecture? Zhang Zhongfu and Yang Shiming suggest the following:
First define the mapping $T_n : \mathbb{N} \to \mathbb{N}$
$$ T_n(x) = \begin{cases} \dfrac{x}{p_{i_1} \dots p_{i_k}} & p_{i_j} \text{ divides } x, i_j \leq n\\ p_{n+1} x + 1 & \text{no prime $p_i \leq p_n$ divides x} \end{cases} $$
The conjecture is that for any $p_{n+1}$ and $x_0$, repeated iteration of $T_n(x)$ on $x_0$ will eventually yield $1$ or enter one of finitely many trivial cycles.
Note that a solution to this generalization will not prove the classical $n=1$ case because we allow non-trivial cycles.