Waiting on the Lord entails the confident expectation of a favourable outcome. This expectation is based on knowledge of and trust in God.
Those who do not know the Lord will not wait on Him, and those who do not trust Him will not wait on Him. We must have faith in who God is and what He is capable of.
And this is the confidence that we have toward him, that if we ask anything according to his will, he hears us. 1 John 5:14
Our strength is renewed as we wait on the Lord (Isaiah 40:31). Waiting on the Lord by trusting, seeking, and praying strengthens our faith and brings us closer to Him.