This is instruction to a minister, specifically, but it applies to everyone. Paul is telling Timothy not to allow himself to become careless and neglect the calling, the wonderful opportunity, that had been given to him. He instructs him to meditate on what a great thing had been given to him. He tells him to fasten it deeply in his heart, to give himself wholly to it, and to be absorbed by it.
This is what God wants from us. Paul also says to watch our life and our doctrine closely. We have to pay attention to ourselves and to God's instruction. We are not to let down, but to continue, to persevere, because in so doing we will help to save ourselves and those who hear us.
John O. Reid (1930-2016)
Don't Take God for Granted
Special spiritual gifts are given through the laying on of hands. Usually, the Holy Spirit was given by the laying on of an elder's hands, confirming baptism. However, Acts 8:14-17 says that the Samaritans received the Holy Spirit after baptism, while Acts 10:44-48 says that it fell upon Cornelius' household before baptism. Sometimes God makes exceptions to work out His own will and plan.
Timothy received special spiritual gifts from the hands of the elders, including the gifts of wisdom and teaching. Paul reminded him that ordination bestowed such gifts upon him and that he needed to stir up God's Spirit to use them.
Martin G. Collins
Basic Doctrines: The Laying On of Hands