I had a similar issue recently on a new purchase of my 85 hp. For me the problem was 2 fold. First I had the engine trimmed wrong and was running the lock pin in the wrong position so I was plowing water - basically I was forcing the bow down into the water and trying to push it the way I had the motor trimmed. I also found that I was getting some slippage in my prop. The rubber bushing was shredded a bit and causing the hub to slip. When I trimmed the motor properly and put a new prop on I gained 9-11mph. I still don't think I am where I should be but I can go 32mph now which is a HUGE improvement.
Other factors to check are make sure you are getting spark, I used one of the those inline spark testers. Also a compression test to make sure all 3 cylinders are close to each other in compression are good places to start.