The tech disruptor revealed the interview question he always asks prospective employees.
"The most important question I ask whenever I'm interviewing someone to join the company is 'Why are you here?'" Dorsey said at Goldman Sachs' 10,000 Small Businesses panel event at LaGuardia Community College in New York on Tuesday afternoon.
For Dorsey, the right answer has everything to do with passion.
"If I see passion for our purpose, I know that any skill can be taught," Dorsey said. "But passion cannot be."
Warren Buffett, Lloyd Blankfein and Michael Bloomberg also spoke at the event, which celebrated a graduating class of small-business owners who had completed the Goldman Sachs business accelerator program.
"It's all about the people," Dorsey said, when asked to give his best advice to other business owners. "Attracting the right people means you have a deep understanding of what your purpose is."
Small-business owners should have a strong grasp of what their purpose is and look for employees who share that purpose, he said.
"If people have passion about their work, they'll go above and beyond to make it successful to fulfill that purpose," Dorsey said. "And if they don't, it will be a drag on the entire organization."