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The easiest way to create a piece of short fiction is to take some of your own life experiences and embellish them. Create a plot revealing a conflict that needs to be resolved. Try writing in first person point of view so at least one of your characters will be under your complete control because you will be writing about what 'you' as the character does. Develop your other characters; get to know them well even if you don't use the details in your story. Create an interesting setting using details that make your story believable because you are writing about places you know.
To keep your fiction short, don't use long descriptive passages, a long introduction, or extensive dialogue. Plunk the reader down in the middle of the action. If you are writing short, flash or micro fiction, don't use subplots. Stick to the main story and keep it moving with colorful images, snappy dialogue, and active verbs.