There are a few possible interpretations of the song's meaning. One interpretation is that it is about taking a risk in a new relationship. Songz sings about how he is "ready for a new love" and how he is "not afraid to get wet." He is telling his potential lover that he is ready to commit to a new relationship and that he is not afraid to get hurt.
Another interpretation is that the song is about taking a risk in a new experience. Songz sings about how he is "ready to try something new" and how he is "not afraid to jump off the cliff." He is telling the listener that they should not be afraid to take a risk and try something new, even if it is scary.
Ultimately, the meaning of the song is up to the individual listener. However, it is clear that the song is about taking a leap of faith and embracing a new experience.