I would argue: If you cannot find a story, then you don't really have a character.
To prove this theory, I asked the gentleman one simple question. "What does your character want more than anything in the world?"
He looked at me for a long, blank moment. Then he said, "I don't know. I suppose I just have facts about the character in mind. No desires."
Here's the thing, dear writers: Facts do not equal a character. This gentleman could tell me what kind of job his character had. He could tell me what his character looked like. He could tell me where his character had grown up, where his character was now living, what this character liked to eat on his pizza. The list of facts went on.
But there was no real character. Because the character did not have a key desire.
Ultimately, desires are what make people interesting. They are what drive and define us. What we want most of out of life affects our personality, our decisions, or actions . . . all choices, both good and bad.
If you want to create a character, don't waste any time deciding what he or she looks like. Don't waste time on superfluous details like job descriptions, background information, anything like that. All of that is secondary . . . those are nothing but details to be filled in later as you flesh out the story.
Ask yourself one simple question: "What does this character want most?"
If you have that answer, you will also have a story. Because, you see, your story will simply be made up of throwing one obstacle after another in the path of your hero, preventing him from achieving what he wants. The plot becomes your hero's struggle to beat the odds, to achieve the dream. Your climax becomes the final confrontation, the final moment when your hero faces the dream itself . . . and either wins it at last or gives it up.
You find the answer to that question, and you will have a story.
By the way, this same question is true when it comes to creating every other character peopling your story. From the villain to all the secondary characters, you must ask, "What does this person want most?" These goals and desires become these characters' motivations. These goals will affect how they interact with your hero and dramatically alter the course of the story, either for good or ill (most often for ill, because that's more interesting reading!)