No one wants to actually spend time documenting what they do. It's time consuming and you could actually be 'doing' it rather than writing it down. My e-mail marketing company VerticalResponse has been bitten time and time again by the 'non documentation' bug and boy does it sting. Two HUGE reasons to document processes for your own business are:
1. Your employees go on vacation and you need to pick up the pieces for what they do when they're not around.
2. Your employees will leave your company and you'll be left holding their bag and you don't know what's in it.
Whether it's "how to input new pricing into the inventory list," "what does this line of engineering code mean?" or 'how to do an e-mail marketing campaign," everything you need to do to run your business should be in some sort of documentation. Then when you update your documentation you have a running history of processes that were created and why they were created.
One great way to document your processes is by doing it online. This way you can have control over who sees what and who can update what. Google Docs is free and an easy way to do this.
I recently had two people leave our company in the marketing department. I asked them if they'd spend their two weeks giving me the following in an online document:
I also re-routed all of their e-mail to me in the event there was something left outstanding.
With all of this, I was able to launch four press releases myself, get a website launched, and EASILY train some new people on how to do those jobs. So why not start making it a policy now to get your people to start documenting what they do and how they do it so you're not SOL if they're not around?