I have been working on my balance using a Bosu Ball. It really helps. These are available at most gyms. Here's the routine I do from easiest to toughest:
First, I gently place one foot in the center of the ball and balance until I feel completely comfortable. Next, switch feet.
Second, I walk toward the ball and step on it with one foot. I am off balance at first and have to get my balance quickly or I will fall. (Luckily not to my death!)
Third, once on the ball and balanced, I hop onto my other foot. Hold for a few seconds and hop again.
Now for the hard part: I take the ball and place it at the edge of Rainbow Wall... just kidding.
I turn the ball over. It's much more unstable with the blue side down. I now repeat the above steps. I actually am working up to the third step with the ball turned over.
A word of caution: this really places strain on your ankles.
My balance has literally saved my life a few times in Red Rock. I believe balance is extremely important along with cardio fitness and muscular strength to be good at mountain climbing.