Briefly, it is the ancient Greek word for excellence. I just use the word excellence in my head when I see this, rather than trying to pronounce it.
The concept is that I always have, am, and will strive for personal excellence. It's a pursuit of perpetual growth, with the ambition of accomplishing success in all important areas of life: mind, body, heart, and soul.
Success in the mind means learning useful skills and being able to tackle tough intellectual challenges which, if solved, improve lives.
Success in the body means health, wellness, hygiene, and energy, as well as maintaining an attractive appearance.
Success in the heart means nurturing and fortifying relationships and the lives of those around me, particularly those whom I love the most.
Success in the soul means being at peace while being a disruptive force of change for the good.