A new form of writing called Flash Fiction has sprung up on the Internet. These mini-narratives are limited to 50 words - within you must establish a character, point of view and tell a story. The British website MiniWords runs an annual writing contest and features some really exceptional writing in this genre.
I've been experimenting with it all week. It is a fascinating discipline for a writer, trying to creative a narrative when each precious word must do double or triple duty.