You might not think that you could learn powerful life and business lessons from a man who wore velvet and heels, but the late artist Prince would prove you wrong.

From challenging the music industry on multiple occasions, to hacking the system by giving albums to those who bought sold-out arena tickets, and changing his name to a symbol to beat Warner Bros, Prince was not only a brilliant artist, but also a fearless trailblazer.

Here are 5 lessons you can learn about life and entrepreneurship from the late and unforgettable Prince:

Lesson #1: Know Yourself And Embrace Who You Are

He wasn't afraid to wear purple velvet and stiletto heels.

Prince even wore buttless yellow pants to the VMA music awards. But he was also the same guy from Minnesota who that liked soup and wasn't afraid to wear "mandals" (white socks with sandals) to an interview with the New Yorker in his home.

Prince knew who he was, and what he stood for.

He didn't fit into the labels for musicians or standard gender roles, and nor did he accept them or let them define him.

Lesson #2: Don't Get Easily Swayed By Trends And Fads

Prince always stuck to his identity and stayed true to his art, no matter how society and technology changed.

In fact, Prince even insisted that no one around him use a cell phone.

In the age of digital, mobile, and obsessions with selfies, he didn't get swayed by hype or fads. He even fought to have certain images of himself removed from fan websites, and even responded with a special "diss track" about those people when they turned against him.

Prince didn't immediately jump on every fad or new social media trend, and continued to do things his way, and it worked for him.

In 2004, he was still performing on stage with names like Beyonce, and even got inducted to the Rock and Roll Hall of Fame. In 2010, he entered the Grammy Hall of Fame and also was one of TIME's "100 Most Influential People In The World."

Lesson #3: Never Be A Slave To Contracts And Obligations

Prince wasn't afraid to do his own thing, and never relied on record labels for distribution or marketing.

From changing his name to the symbol, O(+>, to thwart his record contracts, and writing SLAVE on his face to express his feelings toward the record industry, Prince was no slave to the entertainment industry.

He was fearless and not afraid of cutting ties, or stepping outside traditional boundaries, and this helped pave the way for others in the music industry, as well as his own career as a music artist and icon.

Lesson #4: Don't Be Afraid To Be Bold And Go Against The Grain

Prince was always testing boundaries and experimenting with new things.

His sexual explicit lyrics led to Tipper Gore advocating for Parental Advisory labeling in the music industry in 1985, after she heard her teenage daughter listening to Prince's "Nikki Darling."

But Prince also used innovative tactics for marketing and distribution.

In 2004, he managed to sell more than 600,000 Musicology albums by giving albums to everyone who had purchased tickets to his sold-out live shows.

Lesson #5: Always Think Outside The Box And Test New Things

Prince regularly used innovative tactics for marketing and distribution that made many other artists rethink their relationship with the music industry.

In 2004, he managed to sell more than 600,000 Musicology albums by giving albums to everyone who had purchased tickets to his sold-out live shows.

As a result, Billboard even decided to tweak the policy it used to rank artists.

In 2010, he released his 20Ten album without partnering with any record labels or online services, and instead included free physical album copies inside European newspapers and magazines. Because he didn't make that album available online, it also helped circulate the print publications that helped him distribute his album. Prince managed to distribute 3 million copies of Planet Earth to paid subscribers of The Daily Mail.

Prince said he was just using "direct marketing," but this move showed the music industry how much artists could sell without them.