Everyone wishes to in every endeavor he or she undertakes. Success builds confidence while failure leads to dejection. The proverb is closely associated with the occupation of an ironsmith. When the iron is red hot it is pliable and can be moulded into the desired shape. But if he misses the opportunity of striking the hot iron into shape, no amount of hammering would have any effect on it later. Interpreted and applied to daily human activities, it means seizing the opportunity when it presents itself. The wise always remain alert and make the best use of the opportunity that comes their way. The proverb can be applied to any walk of life and its efficacy can be evaluated. The sagacious strike at the right opportunity and achieve success.