inputField.value = " ";
<form id="myForm">
First name: <input type="text" name="fname" value="Demo"><br>
Last name: <input type="text" name="lname"><br><br>
<input type="file" name="Photo" class=" custom-file-input" id="photo">
<input type="button" onclick="myFunction()" value="Reset form">
</form>
<script>
function myFunction() {
document.getElementById("myForm").reset();
}
</script>
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<input type="text" value="A new value" onfocus="if(this.value=='A new value') this.value='';">
inputField.value = " ";