Your bike is full of deposits -- carbon and varnish -- that are byproducts of petrochemical fuel and years of combustion. Deposits clog fuel lines and carburetor jets, cause piston rings to stick, and effectively run the engine too lean (hard starting, loss of power, and more).
To fix the problem, start by spraying some automatic transmission fluid through the carburetor at high idle with a spray bottle. Do not spray so much to make the engine stall. Spray for five minutes while the engine smokes.
Next, while the engine is warm, remove the spark plug. Pour an ounce of automatic transmission fluid through the spark plug hole and spin the engine over a few revolutions. Allow to soak 10-20 minutes, then spray carburetor cleaner all around inside the compression chamber. Immediately crank the engine some more with the spark plug removed. You will be amazed at the black carbon that comes out. Soak and spray at least two more times.
Replace the spark plug with a new one and start the engine. Lightly spray carburetor cleaner through the throat with the engine at high idle. Spray in one second bursts for five minutes. Find the small carb. jet and spray it directly with the engine off.
Finally, add two ounces of automatic transmission fluid per gallon of gas and run the bike normally, with lots of low-end acceleration, but avoid full throttle for a time. When warm, rev the engine and shut off immediately for 10 minutes (heat soak). Continue using at least two hours over the course of at least two days. Then fill the tank with fresh fuel, this time adding one ounce of acetone per gallon and continue running engine for more hours.
If the bike has crankcase oil, change it and substitute 20% with atf. Change the oil again after an hour of usage and continue using the atf. Change the oil a third time after two more hours of run time.
If this procedure doesn't help, you have an induction leak. Replace old carburetor and intake manifold gaskets. If there are any vacuum hoses, change them as well. You can check the gaskets for leaks first by spraying them heavily with carburetor cleaner while the engine idles, looking for any change in rpm.
I have read that if the intake manifold gaskets are leaky, and you run the engine full throttle for more than a minute, you will overheat and damage the engine badly.