Colloidal semiconductor nanocrystals, or "quantum dots" (QDs), have several optical and chemical properties that give them the potential to enable nonincremental increases in the efficiencies of many types of photocatalytic reactions relevant for energy conversion and organic synthesis. Colloidal photocatalysts have many desirable characteristics of both heterogeneous and homogeneous catalysts but come with their own particular set of challenges. This viewpoint outlines some of the obstacles one first encounters when driving reactions with these colloids and offers some strategies for overcoming these obstades, including ways to extend their excited state lifetimes, prevent corrosion by photogenerated holes, and choose a surface chemistry and buffering system for maximum colloidal stability over a range of environmental conditions.