I like this quote, as it is about the ‘never say die’ attitude. It means getting back up every time you get knocked down, fall down, or otherwise end up feeling down. Even if you start feeling like one of those inflatable punching bags the little kids use, you have to get back up.
This quote also infers that the only way you can lose is to not get back up. If you go down and stay there, that is the only path to a sure defeat. While you are still able to get back up, there is still hope, however slim it might seem.
And that’s what the quote is about, in my opinion. Getting back up, no matter what. Over and over and over again. Until you win. Until the other guy gets tired of swinging, or loses interest and wanders off. You just don’t stop until you have what you set out to achieve.