From Blockbuster to DIG: Steve Prideaux’s Evolution as a Serial Entrepreneur

Steve Prideaux’s entrepreneurial journey is a compelling tale of innovation, adaptability, and relentless pursuit of excellence. From his humble beginnings in finance and accounting to becoming a pivotal figure in the video rental industry, Prideaux’s trajectory has been marked by significant achievements and transformative leadership. His time at Blockbuster was a defining period, where his strategic acumen turned the Australian operations into one of the company’s most profitable regions. Not one to rest on his laurels, Prideaux ventured into founding Movies Plus Australia, a move that showcased his ability to identify market opportunities and execute growth strategies effectively.

Beyond building successful businesses, Prideaux has also dedicated himself to mentoring the next generation of entrepreneurs. His insights and guidance have been invaluable to startups, helping them navigate the complexities of business growth. This passion for mentorship culminated in the establishment of the Digital Investment Group (DIG) in 2011, where he continues to foster innovation and support disruptive digital platforms. We will explore how his diverse experiences and forward-thinking mindset have shaped his entrepreneurial path, leading to the creation of DIG and its impact on the technology and startup ecosystem.

Early Career and Entrepreneurial Beginnings

Steve Prideaux’s entrepreneurial journey began early on, with a background in finance and accounting. After graduating with business and accounting qualifications, he ventured into the retail industry, taking on roles at local government and later the booming video rental industry in the 1980s and 1990s.

It was during his time with a large video rental franchise, Blockbuster, that Prideaux truly honed his entrepreneurial skills. He started as a financial controller but quickly worked his way up to a general management role, then into an international executive position. Under his leadership, the company’s Australian operations grew substantially, from 9% market share to over 30%, and transitioned from losses to multi-million dollar profitability.

Prideaux’s time at Blockbuster gave him valuable experience in building and managing a large, successful business. He gained exposure to corporate governance, financial management, strategic planning, and leading a team – all critical skills for an aspiring entrepreneur.

In 1998, Prideaux put his experience to the test by founding his own video rental business, Movies Plus Australia. Over the next four years, he grew the business to around 30 stores, making it one of the highest performing chains in the country. This entrepreneurial venture proved Prideaux’s ability to identify market opportunities, execute on a growth strategy, and build a valuable business. When the time was right, he successfully sold Movies Plus to Blockbuster in 2002.

Diversification and Mentoring

After the Movies Plus exit, Prideaux moved into a more diverse range of business activities. He took on a general manager role with a larger video and home entertainment retailer, further honing his operational, financial, and leadership skills. He also spent time as a mentor and advisor, sharing his expertise with other entrepreneurs and small-to-medium enterprises through his consulting firm, Daintree Advisory.

In this role, Prideaux helped guide startups and SMEs across a range of industries, providing strategic advice, business planning, capital raising, and more. He developed a reputation as an insightful and valuable mentor, driven by a passion for helping others achieve their entrepreneurial dreams.

Founding Digital Investment Group

Prideaux’s diverse experience and entrepreneurial mindset eventually led him to found Digital Investment Group (DIG) in 2011. DIG was established as an innovative, agile company focused on developing, investing in, and incubating disruptive digital platforms and technologies.

Drawing on his background in retail, franchising, and mentoring, Prideaux positioned DIG as a unique venture that could provide the expertise, funding, and guidance to help promising startups and digital concepts reach their full potential. The company’s three core divisions – IT services, financial services, and incubation – reflect Prideaux’s versatile skillset and vision for building a diversified, future-focused business.

Under Prideaux’s leadership, DIG has grown to encompass a range of successful ventures, including digital marketing platforms, automotive and financial technology solutions, and a startup incubator program. The company has made strategic acquisitions, formed industry partnerships, and nurtured numerous early-stage startups – all with the goal of identifying and capitalising on disruptive opportunities.

Embracing Change and Innovation

A defining characteristic of Prideaux’s entrepreneurial journey is his ability to adapt to changing market conditions and embrace new technologies and business models. Whether it was transitioning from the video rental industry to digital platforms, or pivoting DIG’s focus to emerging sectors like fintech and proptech, Prideaux has consistently demonstrated a forward-thinking, innovative mindset.

This adaptability has enabled Prideaux to stay ahead of the curve and position DIG as a leader in developing and investing in disruptive technologies. His willingness to take calculated risks, coupled with a deep understanding of changing consumer and industry trends, has been a key driver of the company’s success.

Mentorship and Giving Back

Throughout his diverse career, Prideaux has remained committed to mentoring and nurturing the next generation of entrepreneurs. Drawing on his own experiences, he has provided guidance, support, and inspiration to countless startups and small business owners, helping them navigate the challenges of building and scaling a business.

Prideaux’s passion for mentorship is evident in DIG’s incubator program, where the company provides hands-on support, resources, and funding to help early-stage startups bring their ideas to life. This commitment to giving back and empowering others aligns with Prideaux’s belief that entrepreneurship is not just about building successful businesses, but also about creating a positive impact and leaving a lasting legacy.

Steve Prideaux’s entrepreneurial journey is a testament to the power of adaptability, innovation, and a relentless drive to build something of lasting value. From his early days in retail and franchising to his current role as the founder and CEO of Digital Investment Group, Prideaux has consistently demonstrated the qualities that define a successful serial entrepreneur: a willingness to take risks, a keen eye for emerging opportunities, and a passion for nurturing and empowering others. As DIG continues to grow and evolve, Prideaux’s leadership, vision, and entrepreneurial spirit will undoubtedly continue to shape the company’s trajectory and its impact on the broader technology and startup ecosystem in Australia and beyond.