Trim hard fat (which does not melt during the cooking process) and silver skin (white and silvery looking) from beef and cut into 1 - 1 1/2" cubes. It takes about 5 minutes, but don't skip this step. It is sooo worth it.Combine flour, paprika, pepper, and 1 teaspoon salt in a large 1-gallon resealable bag. Seal and shake to combine. Add beef and shake until well coated.Warm olive oil in a large dutch oven (or heavy bottom pot), over medium-high heat, once you can feel the warmth when holding your hand 6 inches from the pot, add butter. Once butter is melted, carefully add beef. Do not crowd the pot, only add about 1/2 of the beef at a time.Remove beef from flour and shake gently to remove loose flour. Place coated beef in the pan, one piece at a time, brown on all sides, about 3-5 minutes per side. Cook in two batches, about half each time. Turn pieces until all sides are browned and remove them and place them in your upside-down pot lid. Once the first batch is cooked, add the second batch and repeat.Meanwhile, prepare shallot and garlic. Shallot should be diced and garlic minced. Set aside.Once all beef is browned, add shallots and garlic. Cook until translucent, about 3 minutes.Add wine and deglaze the pan by scraping up the browned bits at the bottom of the pan. Add beef stock, Worcestershire and Italian seasoning, remaining 1 teaspoon salt. Stir to combine. Return beef to the pot.Cover and bring to a boil. Once boiling, reduce to a simmer. Allow soup to simmer 40 minutes.Meanwhile, prepare potatoes and carrots. Cut vegetables into bite-size pieces. Set aside.Add potatoes and carrots. Stir to coat vegetables and cover. Simmer 40-50 minutes or until vegetables are fork-tender. Taste broth. If necessary, add additional salt to taste (mine was perfect).Garnish with fresh parsley if desired. Serve and enjoy!I do not recommend using beef stew meat. It is a combination of cuts of meat that may not be right for this soup. The best cuts of meat to use for this beef soup are chuck roast, chuck shoulder, chuck-eye roast or top chuck. These cuts will result in meltingly tender beef that you can cut with a spoon, perfect for this dish!You can substitute onion for shallot if you are looking for a stronger onion flavor.4 teaspoons of beef base or bouillon and 4 cups of water can be substituted for the beef stock.Dried Italian Seasoning is a fabulous convenience ingredient. If you do not keep it on hand, combine 1 teaspoon dried basil, 1 teaspoon dried rosemary, 1/2 teaspoon dried oregano and 1/2 teaspoon dried thyme.For a thicker stew-like consistency, cut the beef stock back to 2 cups.I know some people are sensitive to alcohol. I will say the wine adds a fabulous rich burgundy flavor to the soup, and if you can use the cabernet, I highly recommend it. However, you can substitute with beef stock, grape, pomegranate, or cranberry juice.