The length constant is like trying to make a long jump. If you have a lot of energy, you can jump really far, but if you don't have much energy, you won't jump very far. Your body has to do the same thing when sending signals through nerves.
When a signal is sent through a nerve cell, it travels down the long, skinny part of the cell called the axon. The axon is like a long wire, and the signal is electrical.
However, as the signal travels down the axon, it loses some of its energy. It's like trying to jump really far, but getting tired halfway through and not being able to jump as far as you wanted.
The length constant is a measure of how far the signal can travel before it gets too weak to continue. If the length constant is long, the signal can travel further down the axon. But if the length constant is short, the signal won't be able to travel very far and will lose its power quickly.
This is important because nerve cells need to send signals over long distances, sometimes even up to a meter or more. If the signal loses too much energy along the way, it won't be able to make it to the end.
So the length constant is like the energy level you need to have to make a long jump. The higher the energy level, the further you can jump. The longer the length constant, the further the signal can travel down the nerve cell.