This is a time in the economy when millionaires are made. While some businesses are giving up and closing their doors, their competitors are seizing opportunities. Which side would you rather be on? Now is the time for you to rise above it—to stay a step ahead of your competition and Reject the Recession!

Here are ten ways to thrive in tough times:

1. Keep the Marketing Wheels in Motion

Though your first instinct may be to cut costs, this is the worst time to cut back on marketing. Studies show that businesses that continue marketing through a slow economy are the ones that come out ahead when the economy begins to turn. Make sure you have a marketing plan and stick to it. If your current marketing efforts aren’t producing results, try new strategies. When done correctly, marketing is an expense that should pay for itself. Find the strategies that work and then keep doing them.

2. Don’t Be Afraid to Discount

The reality is that consumers are holding on tighter to their wallets. The key to unlock their dollars is in discounts. Take a cue from the big department stores—they are holding incredible sales and offering more coupons than ever. Reevaluate your pricing strategy and offer discounts off your most popular products and services. This may also be a good time to lower your prices across the board and then advertise your “New Lower Prices!” You can always raise them again later.

3. Leverage the Internet

Are you selling products and services from your website? Can you expand your sales channels by selling on eBay or another online venue? Are you reaching your customers with e-mail marketing? Is your website optimized for the search engines? It doesn’t have to cost a fortune to implement an online marketing and sales strategy. Even if you simply add gift certificate purchases to your website, you could uncover a whole new revenue stream. Seek out an online marketing expert and evaluate the opportunities.

4. Form a Mastermind Group

Get together with your staff or assemble a small group of people who understand your business and brainstorm opportunities. When several people get together with a blank slate and some good energy, magic can happen. Ask for ideas—you might be surprised by the results.

5. Tap into a New Niche

Is there a niche that you have been meaning to focus on? Can you uncover a new market that makes sense for your business? For example, a florist that specializes in weddings could pursue the corporate market, a residential real estate agent could go after the investor community or a virtual assistant could decide to specialize in serving the unique needs of financial planners. Pick a new market and then develop a plan of attack.