This was now the third time Jesus was revealed to his disciples after being raised from the dead. Jesus’ post-resurrection appearance to Peter and the others at the Sea of Tiberias served a very important role in the re-configuration of the community of Jesus’ disciples. Like the other appearances, this third appearance marked a pivotal moment in the coming to awareness of this community’s identity and mission. The arrest and crucifixion of Jesus had not only led to the scattering of this group but had also led to what can be seen as a setback in their call and mission. The death of Jesus had thrown them into utter confusion and anxiety. They had not been ready to have Jesus be withdrawn from their midst, for they were still learners, so to speak. They felt lost and confounded. They did not know what to do or how to proceed from the entangled mess into which the death of Jesus had thrust them. 
It would seem that this third appearance took place when the cloud of confusion that had been raised by the violent arrest and execution of Jesus was finally clearing. Normalcy was slowly coming back in Jerusalem and its environs. Even those whose lives were heavily impacted by the events (the disciples) appear to have finally come to terms with their loss. All they could now do was to put everything behind them and move on with their lives. The safest way to do this, it appears, was to get out of Jerusalem and retreat to their rural homes. This might have been the reason why Peter and his colleagues ended up in Galilee.
Back in the village and without a job (for three or so years, following Jesus had been their sole preoccupation), it didn’t take long before Peter and company wound up by the lakeside in order to try their hands at their old profession. It must have been a decision that was arrived upon both as a means of keeping themselves busy as well as a way to put some food on the table. But as fate would have it, on this particular morning/day, after spending the entire night on the rough waters, they caught nothing. It must have been a frustrating sight for a people who had prided themselves as professional fishermen. Had they forgotten how to do it or had bad luck suddenly seemed to be fond of their company? Had the two or so years of being away from fishing resulted in their rustiness in a trade in which they had been brought up? Was it a mere bad luck, or was their failure to make any catch a divinely orchestrated setup? 
It is highly probable that, just has it was with some of the earlier appearances, the group’s failure to make any catch was a stepping stone to something bigger and better (recall how the risen Jesus had closed the minds of the two disciples who were enroute to Emmaus so that he could expound the Scriptures to them and then reveal himself to them at the breaking of the bread [cf. Luke 24:13-35]). If this be the case, then we can see Jesus’ hand not only in the group’s decision to go back fishing but also in their failure to make a catch. It is no mere coincidence that this third appearance takes place on the very lake where Jesus had met and called the pair of brothers (Peter and Andrew, and the two sons of Zebedee [cf. Luke 5:1-11]). It is no coincidence that on both occasions, the pair of brothers manage a big catch only after being instructed by Jesus on where to throw the net. Jesus was making a statement, and it is a statement that Peter and company heard loud and clear. It was a second calling of this group that Jesus was making. For after helping them make a big catch, Jesus proceeded to do something that was meant to put a spark in the group’s memory: he broke bread with them! Without saying a word, Jesus had reminded them that he had already given them an assignment (do this in memory of me [cf. Luke 22:19b]). He was reminding them not to abandon the assignment which he had given them. 
When Jesus appeared to Peter and company on this particular morning, he offered them an opportunity to voluntarily renew their commitment to the cause for which he had called them. He was not going to force them. It had to be their own decision. They had seen for themselves what following him entails, and so it was up to them to make a decision on which way they were to go. Both Jesus and the group knew what had happened during his arrest, how Peter had denied him, and how the group had abandoned him on the cross. Jesus knew their saying yes to his second invitation might as well be out of guilt for having earlier abandoned him. And so before he could accept any “yes” from them, he reminded them that following him was both a mission of service (tend my sheep) and self-renunciation (someone else will lead you to a place where you do not want to go). Following him was going to be a sacrifice. This is where it took him (Jesus), and this was where it would take them (the disciples) if they were to say “yes.” They had to be aware of this fact for only then were they fit to follow Jesus.