If you don't put effort into something, will you succeed in it? I apply this quote to my life by understanding that I can't just wake up one day and be a successful person in life, to be that person I have to put the work and time in to succeed.
As a student and athlete I will have to try as hard as I can in classes and practices, to do well on test and in games. If I put no effort or little effort into what I do I will be less successful, than if I put time into what I do. If I slack off in my classes, I won't get good grades, and that will determine where I go to college, and if I got a scholarship.
Along with if I mess around during my practices I won't be able to play as good as I want to be in the future.
As an adult say I want a promotion I'll have to work hard for it and not slack off on my work. I'll have to put effort and time into my job to get the fair pay I earn.
In life you can't get something if you don't deserve it, you have to earn it. You have to put effort into it to achieve what you want in life.