This phrase was told to me by my father who is a Colonel (Ret.) in the US Army. Essentially it means don't do anything to stand out. Don't be taller, thinner, shorter, fatter, louder, smarter or more visible than those around you. Excellence is a good way to have the higher authority know your name. This can apply to work, school and life in general.

Oh, and never volunteer for ANYTHING!

Update: This idea is illustrated in Kubrick's Full Metal Jacket. In one scene the Drill Instructor goes off on a recruit; at one point he yells "I know your name!"