The word namah means to surrender before the Lord by giving up false ego or independence. "O my spiritual master! O Lord Krishna! From today onwards I am your servant and a soul surrendered unto you.

Please direct me and engage me in your service. From today onwards I have given up false ego or my sense of being the doer. Now my only prayer is that let Your orders and instructions be the polstar director of my life."
To give up material pride based on being the enjoyer, doer, seer, or maintainer is the purport of offering obeisances. When by the guru's mercy one gives up the mentality of being the doer, one can attain transcendental knowledge and actually become initiated. It is a symptom of intelligence that one works for perfection by faithfully serving his spiritual master, who is dear to Krishna, as long as he is present in this world. But if we cannot attain such perfection because we are not respectful toward our immortal spiritual master, if we cannot serve selflessly even after knowing him to be the lord of our heart, then we are deceived. Unfortunately, we will have lost our best frien,d well-wisher, protector, and deliverer despite having received his association. I am such an unlucky person! After approaching the Ganges I run toward the desert to accumulate water! After finding a mine of jewels I am attracted to pieces of glass in a shop! Those who are intelligent should sincerely renounce material desire and subordinate themselves at the lotus feet of the spiritual master with firm determination. Otherwise they will be deceived.