This is the 3772nd most frequent French word.
soit
"Be it," "either," or "namely," depending on context.
In this sentence, 'soit' is the subjunctive form of the verb 'être' used to express a necessity.
Il faut que je soit prêt pour demain.
I must be ready for tomorrow.
Here, 'soit' is used as a conjunction to indicate a choice between options.
Soit je vais au cinéma, soit je reste chez moi.
Either I go to the cinema, or I stay at home.
In this context, 'soit' is used interjectionally to show agreement or acknowledgment.