In chess, the initiative refers to a player’s ability to set the pace of the game by creating threats that force the opponent to react, rather than pursue their own plans.
Holding the initiative means controlling the flow of the game: each move poses a concrete problem that the opponent must address. For instance, a player who develops pieces quickly, castles early, and opens lines toward the opponent’s king generates a chain of threats — that is the initiative at work. The advantage is not necessarily material: you can hold the initiative in an otherwise equal position simply because your pieces are more active and better coordinated.
In practice, to keep the initiative, try to end every move with a threat — even a minor one. A purely defensive move often means surrendering it. Conversely, when you are on the receiving end, look for a counter-threat rather than simply blocking the immediate danger.