The characters literally combine to mean “Good things (好事) have many (多) grindings/setbacks (磨).” This paints a vivid picture of a precious gem that can only achieve its brilliance after being repeatedly ground and polished.
This idiom is a cornerstone of a cultural mindset that values resilience, patience, and long-term thinking over instant gratification. It reflects a worldview shaped by Daoist and Buddhist philosophies that see life as a series of cycles and challenges that one must navigate with endurance.
好事多磨 is an extremely common and versatile phrase used in various situations.