I got very interested in this prompt when I saw it, it's a part of what I've been learning deep into for a while now. Not that I'm a business owner or entrepreneur yet but I plan to be one and learning well into what that side of life entails, I believe it's a great start. So this is like sharing a few I know.
I'll just go straight into the few truths I want any business owner or entrepreneur to know if they really want to succeed by attracting and retaining customers. And the first truth is, business ownership is not for everyone. A lot fail because they got into it to avoid what they are made for.

It takes someone with the sense of leadership, risk taking, constant decision making and staying relevant at all times, to become a business owner that has a growing business. And if we are being honest, not everyone are made like that, some prefer to be led or be given the decided opinions.
Another thing I've learned as a key quality that contributes to entrepreneurial success is, knowing your target at all times. A business is meant to solve the need of a particular market so an entrepreneur should not lose sight of who these people are and that means, being focused.
To attract and retain customers, it requires the business owner to always think up and welcome new ideas that will favour his targeted market more, evolving is very important. A stiff-necked entrepreneur is bound to loss customers who are expecting some new updates or even concern.
An entrepreneur who wants to be successful in his or her business must never stop learning, there are a whole lot more to know and apply to making your business grow and give you time to life your life too. A lot of entrepreneurs find themselves struggling even more than they did when they were working 9-5, there's way out of it.
Be concerned about your health just as you show concern to the customers you've attracted to retain them. Without your health at good level, you'll struggle in making better decisions and it will affect the customers and ultimately, the business. Another good truth to know is, it takes less to hold a business growing than starting it, if the foundation is laid out well (having a target).
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Honestly, nice write-up. And you're right business owner must not stop learning so that it will keep making there business grow and expanding. I also wish to have a business of my own and pray it will be one day.