Use the Optional keyword and supply a default value. Optional parameters must be the last parameters defined, to avoid creating ambiguous function signatures.
Sub MyMethod(ByVal Param1 As String, Optional ByVal FlagArgument As Boolean = True)
If FlagArgument Then
'Do something special
Console.WriteLine(Param1)
End If
End Sub
Call it like this:
MyMethod("test1")
Or like this:
MyMethod("test2", False)