Of course, if you go through this process for every single word you learn, the process will be very slow. I tend to reserve this strategy only for the words that I consistently forget. As you use this strategy more, coming up with mnemonic stories will become easier and easier. Eventually it will only take you a few seconds to come up with a new story.

Don't overuse this trick though. The mnemonic story is only a transitionary device, which is to be discarded after it has outgrown its usefulness. After you recall the story several times, it will become less necessary, and before long you will be able to remember the word without using the story at all.