In a soup pot, heat the olive oil over medium heat until very hot. Add the chicken and cook, stirring often, until browned and cooked through. Use a wooden spoon to break up the meat as it cooks. Season with salt, pepper, cumin, paprika, and chili powder. Season to taste with cayenne powder and toss to coat the chicken with the spices. Scoop the chicken out and transfer to a bowl, leaving the pot on medium heat.