1. Watch a bunch of videos on Youtube on pool pump troubleshooting.
2. Remove the rear housing of the pump motor and turn the pump rotor rod by hand in both directions to rule out a bad bearing or something being stuck in the movement mechanism.
3. Remove the top cover housing the run capacitor (which is a silver cylinder with 2 nipples on top) and discharge and remove the capacitor.
4. Test the capacitor using a digital multimeter (again watched how to do it on Youtube).
5. Buy a new capacitor at my local pool store and replace the old one. The local store sold capacitors for around $35. Same ones are under $10 on Amazon, but I did not want to wait for delivery.
And the pump is back in business. The guy at the pool store said that the majority of the time when a pump stops working it is due to a bad capacitor. So pool pumps are very similar to HVAC systems in that aspect of troubleshooting.
Anyhow, a capacitor is very easy to access and replace. And if you do it yourself, it saves a lot of money compared to calling for service.