You can use this phrase to ask someone things like this: - How are things going? - Is everything o.k. with you? Or in a slightly different context: Someone asks you to meet you and suggests a time for the meeting. He could add the sentence: "Wie sieht es bei Dir aus?" Here the sentence means: Does this time fit in your schedule? Are you comfortable with it? In a more general sense this phrase is used to ask you whether you have or not have any Problems with the topic at hand.