This quote from a frustrated corporate venturer at a large utility is at the heart of the difficulty facing professionals whose job is to encourage change at their parent by introducing new ideas and companies from third parties.
The quote speaks to the spectrum of outlooks from "can‑do" entrepreneurs, who have to be flexible, work hard and show initiative and dynamism, and more cautious managers at utilities where rewards come to those over time who avoid failures and mistakes.
That utilities are the most pro-cyclical and short-term in their venturing programmes is counterintuitive given the long-term nature of their business and infrastructure, but a logical consequence of the culture these former or effective monopolistic bodies retain.
Often when providing venture capital, the investment focus is on finding a stellar management team even if the product is often mediocre, as great people will find a way round the challenges.
The same focus should be applied to the corporate venturer’s own company, and if the questions of "would you put your money behind these people and with this organisation structure and culture?" cannot be answered satisfactorily then the likelihood is the unit will fail in its goals (usually by not having the time to achieve them).
That a number of utilities, primarily in telecoms, have successful corporate venturing divisions that have lasted more than a decade is testament to the calibre of the people chosen and organisation structures put in place.
The current cycle of building up corporate venturing units across the utilities sector has been built on more solid foundations than previously but, fundamentally, the culture of the parents remains broadly similar and could take decades to break down if the experience of telecoms is any gauge.
The majority of utilities have come from privatisations within the past 30 years, which is often less than the average lifespan of one of their power plants, but pressure for change is growing (albeit at different rates in different industries).
The profiles, in the August issue of Global Corporate Venturing, of DTE Energy Ventures and Swisscom Ventures, as part of the ranking of the most influential utilities globally, provides examples from two groups in different industries, but so far successfully grappling with the same challenge: to help their business deal with a burning platform where the goods being supplied are changing.
This change brings complications to revenue streams and underlying profitability but offers opportunities as well as threats to those utilities that build on their admirable reputation for loyalty and reliability with a spirit of openness to the potential for new ideas and technologies to help in their work.