Use timing as guidance, not a target
A shorter speech can still be warm, funny and memorable. Clear structure usually matters more than squeezing in every story. Read the speech aloud at least once, mark places to breathe and leave room for people to react.
A simple structure
Welcome or thank the room, establish why you are speaking, choose a small number of specific stories, say what you genuinely admire, and finish with a clear toast or closing thought. Avoid private jokes that exclude most guests, and check uncertain stories with the people involved.