There are several ways of interpreting it. For example: The Torah provides a basic, minimal standard. But that doesn’t mean that we should approach Torah like it’s a check list: Did that, check. Did it, check, etc.
Every mizvah has numerous levels of refinement. It’s like a musical score. You can play it like a person in High School band – or it can be played like a world-class concert musician.
We’re being told here that after fulfilling Hashem’s will, we should look up, and think about how to polish what we’ve done and how to kick it up a notch next time. For example, some people will visit someone sick in the hospital. They did OK. But there are people whose hospital visitations are incomparable.
The same with putting on Tefillin, praying, honoring parents, observing Shabbat.
We start on the ground floor, but should realize that there is more.