I’m not familiar with the term ″Minute steak.″ A Minute Steak is a small (typically 1/4 inch thick) cut of boneless, tenderized beef – most frequently sourced from the sirloin of a cow – that is served immediately after being cooked.What exactly does this mean?For starters, the sirloin is a group of muscles that can be located on the mid-to-lower back of a cow’s back (between the Fore Rib and Rump).