This is a portrait I did for my sister's LinkedIn profile in our livingroom using a very similar setup.
I think that the blue wall really looks great as a neutral background - with a little more pop than a standard white or grey backdrop. I used the Lumaquest Softbox for this photo and a reflector to the left and another below. I didn't use a hair-light reflector because I though that the 8' white ceiling would bounce enough light down - but looking at it in hind sight the softbox controls the light spill better than an umbrella, so I could have used a reflector above to separate her from the background a bit more.
Here is what the setup looked like:
The lighting for this kind of portrait could easily be adapted to kids, birthdays, babies, pets etc. - anything where you need some really quick pretty light.
It is especially easy to set up because the only variable you really have to worry about is the power of the flash - but if you use the formula from class - ISO 200, 1/200th, f/5.6, 1/4 power - you should be close right away.