Applying a force equal to the object's weight (mg) results in no net force, meaning the object can only move at a constant velocity or remain at rest. To initiate upward motion from rest, a force greater than mg is necessary to overcome inertia and gravity. Once in motion, maintaining a constant velocity requires balancing forces, where the upward force equals mg. The discussion clarifies that while simplified examples may omit the initial force needed to start movement, understanding the dynamics of force and acceleration is crucial. Ultimately, to raise an object, one must first apply a force greater than its weight to overcome gravitational resistance.