The first 18 to 22 years of our lives were filled with relative certainty. In school math problems had predictable solutions, which could be found at the end of the book or in the next day’s lesson. Our science experiments usually resulted in predictable outcomes. We could certain of what was going to happen next.

This treasured certainty abruptly ended as soon as we graduated from school, college or university. After 18-22 years of certainty and predictability, we were about to experience the exact opposite.

Business, work and life in general are not predictable…at all. We are suddenly required to make decisions without any certainty, predictability or even probability of the outcome. As a result, many of us freeze up in procrastination or end up making the wrong decisions in uncertain circumstances.

As leaders we don’t have a choice. If we don’t make decisions quickly, decisively and confidently we will fail at our tasks. We make most of our decisions without having all of the information required and without the ability to predict the outcome. Rupert Murdoch once said that great leaders make more than 20 important decisions every day and probably half of these decisions are wrong. This kind of uncertainty drives most people nuts. Doesn’t it?

This is true not only to your business and career but also to your life. For example, in the western world the divorce rate has reached 50%. Uncertainty takes over every aspect of our lives in the 21st Century. In order to be successful in the unpredictable circumstances of our business, career and life it is crucial that we are aware of uncertainty and that we develop strategies to cope with it.

Here is how you can become successful in an uncertain world. Let’s use the business of stock trading to learn how to operate in complete uncertainty. The probability of making money in the stock market is 50% in the long term, because the stock market is a zero-sum game. This means that successful stock traders develop an edge to help turn the odds to their side. They are able to accomplish this feat because they run with their winners and cut their losses short. They are able to excel in a business with a 50% probability of success because they follow a few simple strategies. We too can adopt these 6 simple strategies into our business, career and our life.

1. Decide With Incomplete Information

If we wait for all of the complete information before we take action, we may end up waiting forever. Many leaders become stuck in the ‘analysis-paralysis’ syndrome, where they continue searching for answers and analyzing possible outcomes while their competitors are already implementing. You can avoid the ‘analysis-paralysis’ syndrome by recognizing that your decision has been made based on incomplete information and by creating an actionable plan to mitigate the risks associated with it.

2. Act Quickly

The Perfect Moment doesn’t exist. Waiting for the perfect moment is like waiting for the exact alignment of the stars. If you want to make a change, you have to be willing to do it right now. Not later. Not tomorrow. New Year’s resolutions are an example for waiting for the perfect moment. Why should you wait for the beginning of a new year to make a resolution? So many people that wait for New Year’s Day to make a change end up failing to make such a change, mostly because they have waited too long.

If there were such thing as a perfect moment, we’d all be making perfect decisions every single time and no one would ever make a bad decision. The perfect moment is now. There is never a single right time. It is always the right time.

People that procrastinate are subject to the Law of Diminishing Intent, which says, “The longer you wait to do something you should do now, the greater the odds that you will never actually do it.” Act quickly. Act now!

3. Look at the Downside

When we make decisions quickly using incomplete information we increase the risk of failure. We need to assess the risks associated with our decision and ask “what if” the decision ends up being unsuccessful. It is quite obvious that most people make decisions without looking at the potential downsides. Don’t make this mistake. Always be prepared in case things don’t go well as expected.

4. Execute Flawlessly

An excellent execution of a mediocre decision reaps far better results than a poor execution of an excellent decision. Focus on the execution more than on the decision. Once you make a quick decision based on incomplete information ensure that your execution is no less than perfect. Poor execution in uncertain environment compounds the chances of failure.

5. Mitigate the Risk

Successful investors never decide to invest in anything without a clear exit strategy in place. Successful stock traders never take a trade without setting a ‘Stop Order’ in place first. They don’t leave anything up to luck. They don’t count on their ability to make the right decision quickly enough when the odds turn against them (which happens 50% of the time). They decide on a risk mitigation strategy BEFORE they take on the trade. We should do the same. Every uncertain decision we make should have a risk mitigation strategy in place before we make it.

You would expect that a 50% rate of divorce would encourage certain risk mitigation strategies, such as prenuptial agreements. But few people take such precautions. The problem is that prenuptial agreements often seem so utterly unromantic in our most romantic moments. But they can end up being so right if a marriage happens to end in a legal separation, a divorce or with a death. According to American Academy of Matrimonial Lawyers President Marlene Eskind Moses, only 3% of couples have prenuptial agreements.

In business we also tend to become romantic and fall in love with our decisions. When this happens we do not mitigate the risks before we make critical decisions. Don’t make this mistake. Mitigate your risks in advance because when the odds turn against you (and they will at some point) it will be too late.

6. Cut Your Losses Short

You would be astonished by the number of people who have lost money in the stock market because instead of selling their plummeting stock and using that money to purchase climbing stocks, they held on, waiting for the original stock to rebound. Many leaders continue to hold on to losing projects that are a result of their own decisions rather than to divest, abolish or abort to cut their loses short. The key is to detach ourselves emotionally from the wrong decisions we have made.

These are the 6 simple strategies that will make you successful in embracing uncertainty.

The 21st Century is the century of uncertainty. Feel comfortable with uncertainty in order to become successful in your business, career and life. You will accomplish this if you decide with incomplete information, act quickly, look at the downside, executive flawlessly, mitigate the risks, and cut short your losses.