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It means you should not be contented with mediocre works, or works that are just "so-so." Imagine a bow and an arrow. To be able to hit your targeted mark, you have to set your bow and arrow higher than your targeted mark because as the arrow flies to your targeted mark, it goes down. This implies that to not get a disappointing result, you should dream higher.

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Q: Aim high and hit the mark means?
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Related questions

Did Annie Oakley have a famous quote?

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