chamber Magazine

For as long as he can remember, business has been part of Nate Zolman's life.

As president of Zolman Tire, the Mishawaka-based company his father, Bud, founded in 1978, Zolman grew up listening to stories around the dinner table about the realities of owning a small business. Long before he earned the title of president, he was mowing lawns, raking leaves and absorbing lessons from his father who built the company through hard work and perseverance.

"My dad taught me through his school of hard knocks," Zolman said. "He taught me basic business instincts—how to treat customers, stay conservative and always do the right thing."

Those instincts served him well. After graduating from Ball State University, Zolman joined the family business, opened the company's Granger location in 1995 and eventually led an ambitious expansion that his father had been hesitant to pursue.

But as the business grew, Zolman realized instinct alone wouldn't be enough. "I knew my dad's business model worked," he said. "But I also knew it had a shorter lifespan unless I kept learning. I didn't have all the tools to take the business to the next level."

That realization eventually led him to the Executive MBA program at the University of Notre Dame's Mendoza College of Business

A Lifelong Dream Comes Full Circle

Growing up in Mishawaka, Zolman dreamed of attending Notre Dame. As a competitive swimmer, he hoped to swim for the Irish, but after conversations with legendary Notre Dame swim coach Tim Welsh, he found Ball State to be a better academic, athletic and financial fit. Still, the dream of attending Notre Dame never disappeared.

Years later, with five children of his own and a thriving business, Zolman applied to Mendoza's Executive MBA program. Then COVID-19 changed everything.

Just as the pandemic forced Zolman Tire to reduce hours and make the heartbreaking decision to furlough employees, he received an unexpected phone call from Notre Dame informing him he had been accepted into the program. Because of the uncertainty surrounding the pandemic, the University even offered him up to 90 days to decide whether to enroll.

His family encouraged him to take the leap. “My wife said, 'You have to do this,'" Zolman recalled. "My kids thought it would be a good example that you're never done learning."

His company vice president, Tony Milcherska, an 11-year Army combat-veteran also  told him to go for it and that he would have his back. “Tony stepped up beyond any expectations and guided the leadership team,” Zolman said.  

Learning to Put Numbers Behind Instincts

Mendoza's Executive MBA is a two-year, in-person program designed for experienced professionals who want to continue leading their organizations while developing advanced business and leadership skills. Meeting on campus just one weekend per month, the schedule allows students to earn their degree without having to take a leave of absence or step away from their full-time job. Students immediately apply classroom concepts to real-world challenges within their own companies.

For Zolman, that practical approach made all the difference. "I've always had good business instincts," he said. "But I never knew how to formally prove whether an idea was right or wrong." The program gave him analytical tools to understand financial modeling and measure long-term return on investment instead of relying solely on intuition.

One of his biggest breakthroughs came in accounting. For years, he understood individual financial reports but had never fully grasped how every decision flowed through the entire financial picture. "Now I understand when I pull one lever, how it affects everything else," he said. "I can see how a decision impacts the balance sheet, the income statement and ultimately the business."

Finance and digital marketing also became immediate takeaways that influenced how he leads the company today.

Real-World Lessons with Immediate Results

Unlike many graduate programs, the Executive MBA encouraged students to bring their own business challenges into the classroom.

While still enrolled, Zolman was evaluating the purchase of two tire locations in Michigan. Rather than relying only on experience, his professors challenged him to value the businesses three different ways: first by instinct, then using techniques learned in finance, and finally by applying broader strategic valuation methods taught throughout the program.

The exercise became one of his defining moments. His instinctive valuation was remarkably close to the analytical models, giving him confidence that years of experience had built strong judgment. The Executive MBA didn't replace those instincts—it strengthened them by providing a disciplined framework for testing assumptions and reducing risk.

"Before, I'd think, I'm pretty sure this will work,'" he said. "Now I can put a pencil to it." The experience also reshaped his thinking about debt and growth. Raised to believe debt should always be avoided, he came to understand that responsible leverage, when supported by sound financial analysis, can accelerate business growth without compromising stability.

Never Too Late to Learn

Zolman entered the Executive MBA program at age 50 and graduated at 52 with a 3.4 GPA. The experience required far more time than he anticipated—often approaching 60 hours each week between coursework, reading and study groups, but he says every hour was worthwhile. “I have never been a fast learner. I must re-read and do the assignments multiple times before I truly understand things. But once I do understand, I am very fast at implementing them into real-world results.”

Along the way, he formed lasting relationships with classmates and professors. Because his cohort navigated the uncertainty of the pandemic together, the bonds became especially strong, with local classmates regularly meeting outside of class to help each other master difficult concepts.

The results have extended far beyond the classroom. Zolman notes that the company doubled in size between 2010 and 2020 and then doubled again in the years that followed through continued expansion and diversification into commercial truck service, agriculture, off-road equipment and automotive repair. Today, Zolman Tire has nine retail locations and five commercial truck centers, with 185 team members.

While he attributes that success to many factors, he believes the Executive MBA equipped him with the confidence and discipline to make smarter, data-informed decisions. "The program absolutely transformed my family business," he said. "It transformed the careers of our employees and our lives.  I couldn't be happier."

For business leaders considering their own next chapter, Zolman offers a simple reminder: it's never too late to invest in yourself. His father gave him the instincts to succeed. Mendoza gave him the framework to build on them. Together, they helped turn a successful family business into one positioned for the future.

Nate Zolman shared his Executive MBA success story at this year’s Michiana Forty under 40 Recognition Luncheon. The University of Notre Dame’s Mendoza College of Business offers a $30,000 scholarship to be used toward tuition to any Michiana Forty under 40 recipient, past or present, who is accepted to the Executive MBA program.