Om Narayanaye Vidmahe
Vasudevayedhi-Mahi
Tan No Vishnu Prachodayat
It means:-"Narayanaya Vidmahe"..meaning we will know
Narayana..."Vasudevaya Dhimahi" meaning "we will meditate on
Vasudeva"...."tanno vishnuh prachodayat" meaning "Through that
Vishnu will enlighten us"....
Hence, 'Vidmahe' means "knowing' , 'dhimahi' means 'meditating upon' and 'prachodayat' means 'getting enlightened'.
Thank you. Hari Om.