It was narrated from 'Ubaidullah bin 'Abdullah bin 'Umar that his father said: "The Talbiyah of the Messenger of Allah was: "Labbaika Allahumma Labbaik, Labbaika la sharika laka labbaik. Innal-hamda wan-ni'mata laka wal-mulk, la sharika lak (Here I am, O Allah, here I am. Here I am, You have no partner, here I am. Verily all praise and blessings are Yours, and all sovereignty, You have no partner)". And Ibn 'Umar added: "Labbaika Labbaika wasa'daika wal-khayr fi yadika, warraghba' ilaika wal-'aml (Here I am, here I am, and at Your service; all good is in Your hands, seeking Your pleasure and striving for Your sake)".
The main idea behind this hadith is that Muslims should strive hard in their worship of Allah by reciting prayers such as the Talbiyah with sincerity and humility, so that they can be closer to Him and receive His blessings in return. This hadith also teaches us about humility before God, gratitude for what He has given us, obedience towards Him, striving hard in our worship of Him, seeking His pleasure through our actions, and ultimately submitting ourselves completely unto Him alone without any partners or associates whatsoever.