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1.
a phrase used to indicate that something with happen when <insert positive thing(s) here> begin to happen. The phrase says 1) that things are going to get better and 2) that is when the mentioned event or state of being will commence.

see also: the going is good good going and how's it going
example 1:
guy: "do you think 3 people will be enough to run an entire company?"
boss: "it's enough to start with, we'll hire more when the going gets good"

example 2:
dude: "yo man, I heard you started dealin' again... you buy yerself a new TV set yet"
other dude: "nah man, I aint ballin yet, but you know i'll hook myself up when the going gets good, dig?"
dude: "werd"
by Olly J June 03, 2005