To make it a hard reset, just unplug the TV from AC mains wall socket, and re-plug it back after 15 minutes or so. This procedure will make it a hard reset. If you want to make it a system reset [Factory Reset]; you have to enter its service mode option, and select the factory reset option. If you wish to get some details; check the site linked here. Pull up older posts
. Surf the site with patience. http://electronicshelponline.blogspot.com/
Service mode entry, adjust and exit procedure to many popular brand TVs are given. Never forget to exit the service mode, after all adjustments have been done.
These blinks [flashes] are fault indication (Error Codes). From the number of blinks occur at one time switch ON, you can get an idea about the faulty circuit section inside it. This will make repair easy. These are called blinking codes. Make sure about the exact number of blinking of the standby/power LED, by switching On & OFF the set, for at least two times. Count it carefully. If you wish to get some details, check the site linked above. It has details about blinking codes, and fault locating procedure, to many popular brand TVs and other devices.
Blinking codes details to many popular brand TVs are given. Surf the site with patience. If blinks continue without any pause, the main board is faulty.