Did you prime fully? Older models need careful attention in the priming phase or they either don't start at all, or they fire on less than all cylinders and then stall before developing full power.
Sometimes it's a good idea to put a shot of Easystart in before you start priming - you'll find the starting procedure a lot quicker, and they get warm without having to wait for so long.
Also check you are using good quality lubricants.