What do you guys think about teaching respect through consequences?

I believe in old fashioned accountability. When my kids mess up, they face real consequences, not participation trophies or excuses. My wife thinks I'm too hard sometimes but I grew up with a father who held me to high standards and I turned out fine. I'm not talking about being harsh, just consistent and firm. If a man says he's going to do something, he does it. If he messes up, he owns it. Trying to instill that in my boys while they're young. Am I off base here or does anyone else parent this way?