What I've discovered is this: In larger organizations, you get respect by being the "answer" guy. If everyone's coming to you for advice, you become more important.
In small organizations, you get respect for being the hero, who waves his magic wand and fixes things after everything goes to shit. This is easy to do since most of the operations are pretty basic and cowboy to begin with.
The biggest key to respect (in mid-to-large organizations) is playing the political game. The more your name is on peoples' lips, the more important you'll appear to be.
But the question is: WHY do you want it? If it's for the money, you can get much more money with less effort freelancing or consulting. If it's for security, you could also get that by digging yourself so deeply into an essential project that nobody can get you out. If it's for the admiration of your peers, just remember that it also sparks envy, and separates you from them emotionally. If you wish to belong, you're far better off choosing a faction to ally yourself with, and remaining loyal. Elevation is a loner's game.
My advice: Just pick something interesting and go with it. If it doesn't work out, pick something else. Fear of failure is worst in people who haven't failed yet, and that fear will impede you far more than actual failure ever could (I've had a few spectacular failures in my lifetime, to the point of being reduced to the clothes on my back, and each failure made me more fearless).
You don't need the respect of others when you're making your own path.