Literally: stand up – person – go out – society
Alternately: Success in society; specifically, establishing oneself in a high (and well-paid) position. Achieving fame and fortune.
Notes: This is a repetition-type compound; both risshin and shusse refer to “success in society.”
While the first image this phrase calls to mind for me is of the cursus honorum that classical or feudal aristocrats were expected to rise though, it apparently came into popular use in the early Meiji era, when the advent of democracy and the deconstruction of the old social order led to a dramatic increase in social mobility.