I wanted to reflect on this wild ride that was 2023 and talk about where I think we’re heading.
As we transition from a challenging yet rewarding year into the promise of the next, I stand at a pivotal moment of growth and clarity.
The past year’s experiences have blended professional milestones, personal evolution, and invaluable lessons.
2023: A Year of Steady Progress Amidst Challenges
The year 2023 continued to throw curveballs in the form of market fluctuations and economic uncertainty. In true Lang style, we stuck to our principles:
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- Acquiring/Investing in value.
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- Focusing on the long-term portfolio expansion.
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- Avoiding the temptation to follow market whims.
Our devotion to these fundamentals has, as usual, served us well.
The expansion of the business portfolio, with four new company acquisitions, continued my legacy of strategic growth through acquisitions, further diversifying the portfolio and strengthening my companies. This growth reflects a broader vision of impactful entrepreneurship beyond mere M&A, practicing what I preach.
We are witnessing what can be considered the best time in history for buying businesses and growth via M&A, largely due to the ‘silver tsunami’ – a term referring to the aging generation of business owners looking to retire and sell their businesses. This trend has opened unprecedented opportunities for strategic acquisitions and expansion.
Navigating unexpected challenges, like the SVB-led banking crisis and continued global conflict, tested and honed my and our society’s resilience. Despite these hurdles, our progress, albeit slower, continues with determination, exemplifying turning obstacles into opportunities. We’ve learned and grown from these experiences, emerging stronger and more focused.
Not every deal was a home run. We faced challenges – market fluctuations, a few deals that didn’t pan out as expected, and let’s remember the challenges of balancing a high-octane career with family life.
Beyond the confines of the boardroom, 2023 brought immense personal enrichment. I dedicated a significant part of the year to spending invaluable time with my family, especially cherishing and nurturing the crucial developmental stages of my one-year-old daughter. Experiencing her growth and exploration during our travels has been incredibly heartwarming, emphasizing the importance of being present during these formative years.
Living in Paris, Mexico City, and Montreal, my family and I immersed ourselves in new cultures. These experiences enriched us culturally and provided a much-needed balance to the intensity of professional life.
Completing two half Ironmans, I also prioritized my health and well-being, balancing it with the demands of my businesses.
Mentoring and teaching through live events, my M&A courses, and guiding businesses through mergers and acquisitions were highlights. As an industry leader and strategic advisor to companies, I have impacted businesses and individuals across multiple continents.
My podcast and newsletter launched this year – thanks to everyone who read/listened, and shared. We have released a lot of content recently, and the response has been very positive and motivating.
2024: Anticipating Key Trends and Changes
In Marketing, Creative, Advertising, and Digital Services: The industry should expect groundbreaking shifts, with AI and emerging technologies revolutionizing how we approach creativity and customer engagement. Anticipate a surge in personalized marketing communication, leveraging AI-driven analytics for deeper consumer insights. Staying ahead will mean embracing these technologies daily, encouraging innovation, and continually adapting our strategies.
US and Global Politics: The complex and consequential nature of the domestic and international political landscape will continue to impact businesses significantly. With key elections and policy decisions on the horizon, political shifts could substantially impact market sentiments and regulatory conditions. My strategy involves staying informed and agile, ready to navigate these changes effectively.
US & Global Economy: Economically, the landscape looks mixed with potential growth opportunities amidst lingering uncertainties. The key areas to watch are:
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- Global economic recovery efforts.
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- Fluctuating trade relations.
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- Market responses to geopolitical events.
A balanced, diversified approach will be crucial in navigating this economic terrain.
Investing in Talent: Our people are our greatest asset. In 2024, we will continue to invest in the development and well-being of our talented team, fostering a culture of creativity, inclusion, and collaboration.
Vision for the Upcoming Year
So, what’s the plan for 2024? It’s simple: Go bigger, go harder, and experience more.
The upcoming year is about amplifying business growth and personal branding. Investing in myself remains a priority, focusing on expanding influence and reach.
Enhancing my digital presence through content creation and social media engagement is strategically essential. These efforts aim to share knowledge and insights, fostering a community of learning and growth.
We anticipate future challenges and opportunities and remain focused on thriving in any economic climate. My commitment to my family, fitness, and travel continues, which is crucial for my mental and physical well-being.
In Closing
Here’s the deal – 2024 is not just another year. It’s a chance to go after what you want, push the boundaries, and create your life.
Don’t just dream it; work for it. The time is now.
I am ready to embrace 2024 with optimism, strategic foresight, and resilience.
The past year has set the stage for a year of potential, growth, and personal satisfaction. Here’s to breaking new ground, creating lasting impacts, and achieving fulfillment.
As always, I appreciate your support of my content. You’re welcome to email me questions or raise issues for discussion.
Wishing you all a year filled with growth, wisdom, and success.
Onwards and Upwards,
Peter