"The expectations of life depend upon diligence; the mechanic that would perfect his work must first sharpen his tools"

This quote implies that in order to accomplish success or fulfill one's objectives in life, one should work hard and be diligent. It compares this procedure to a mechanic who must first prepare their tools and make certain they are honed prior to they can finish their work effectively. Basically, in order to accomplish something, one must prepare and work regularly towards that objective.