Meaning: Seize a good opportunity as quickly as possible. Make the most of the chance while it is there!
Note: This proverb comes from metal work. If you are making something from a metal such as iron, you need to hit, or strike, the metal while it is hot if you want to change its shape.
Examples: 1. “Why don’t you ask your boss for a pay rise? As you have just completed that difficult project on time, it makes sense to strike while the iron is hot!” “Yes, you are right. I’ll go and ask him now!”
2. “With these low house prices and low interest rates, it’s a great time to buy a house if you can afford to. Strike while the iron is hot, as they say!”