The group selects two issues and turns them into aspects, then creates a couple of NPCs to attach as "faces" to the issues, and after that creates some important locations and their faces. The Dresden Files RPG works similar, as it served as the blueprint for that method.
Each member of the group rolls up some game values for a system or two in the local cluster, then assigns aspects to the systems and connects them to the other systems.
Starblazer Adventures/Legends of Anglerre
Everyone marks a small circle on a piece of paper, then lines are drawn from the circle to the nearest edge of the paper. This partitions the map into sectors, city quarters or large natural features. Then everybody again places circles inside the map partitions. Each area and each circle gets a name and an aspect. Instant map of the game area with aspects and names.
White Picket Witches
Each player creates a Place of Power defined by a Leitmotif (basically a theme song) and assigns three of the seven Assets of the game at Great, Good and Fair level to the place. Name the place and you are good to go.
That's a very quick rundown of the currently available methods as starting place to create my own (or decide which one I like best). I admit that I am partial to the White Picket Witches method.