You might like to try starting it with an electric drill.
If you can get it running, you could then try adjusting the fuel mixture needle.
However, the motor could well start and run at high speed, but die when you reduce the revs to idle, which
like Bucaneer said, it could indicate that the crankcase bearing is worn resulting in lack of suction through the reeds.
I had a similar problem with a 2hp Yamaha earlier this year. Unfortunately, in my case, the high cost of repair resulted in the motor being sold for parts.
Monte NZ