Strategy & opening play
Initiative
The side with the initiative makes threats that shape play and force the opponent to respond. It is a dynamic advantage that can disappear quickly. Material advantage, space advantage and initiative are different things.
A practical example
You develop a bishop with an attack on the queen, then open a file towards the king. If the opponent must keep defending, you may have the initiative even while a pawn down.
A common mistake
Continuing an attack simply because you were pressing earlier. Once the threats run out, a quiet developing move or king-safety move may be stronger than another sacrifice.
Try this in your next review
Before each move, state your actual threat and the best defence. Decide whether your next move increases pressure or whether it is time to convert activity into material or a lasting positional advantage.