Where did you read or who told you this procedure? Cranking the throttle is an inboard engine technique because there is no choke.
When the engine cranks, right after turning the key, does it turn over FAST? Is the battery new or in good shape?
Define cold. When not used or when it is 40 degrees outside.
My 1987 90 hp would take forever untill I learned the right procedure.
Try this -
Prime the fuel
Leave throttle in neutral
Push and hold key (choke) and turn over 5 seconds. (1 mississippi, 2 missisippi)
Repeat 5 times.
If no joy then B)
Advance the throttle 1/2 way and leave it there (when she starts, throttle back to N ASAP!)
Push key in and turn over 5 seconds.
If the engine fires, even for a millisecond,reduce throttle to neutral and use choke and turn key (with choke) for 5 seconds.
If you use the throttle advance without the choke, you will flood the engine.
1991 Boston Whaler Outrage 17
2003 Yamaha F115