This work explored possibilities to obtain colloidal quantum dots (QDs) with ideal photoluminescence (PL) properties, i.e., monoexponential PL decay dynamics, unity PL quantum yield, ensemble PL spectrum identical to that at the single-dot level, single-dot PL nonblinking, and antibleaching. Using CdSe/CdS core/shell QDs as the model system, shell-epitaxy, ligand exchange, and shape conversion of the core/shell QDs were studied systematically to establish a strategy for reproducibly synthesizing QDs with the targeted properties. The key synthetic parameter during epitaxy was application of entropic ligands, i.e., mixed carboxylate ligands with different hydrocarbon chain length and/or structure. Well-controlled epitaxial shells with certain thickness (∼3-8 monolayers of the CdS shells) were found to be necessary to reach ideal photoluminescence properties, and the size of the core QDs was found to play a critical role in determining both photophysical and photochemical properties of the core/shell QDs. Effects of shape of the core QDs were unnoticeable, and shape of the core/shell QDs only affected photophysical properties quantitatively. Surface ligands, amines versus carboxylates, were important for photochemical properties (antiblinking and antibleaching) but barely affected photophysical properties as long as entropic ligands (mixed carboxylate ligands with distinguishable hydrocarbon chain lengths) were applied during epitaxy. Chemical environment (in polymer or in air), coupled with surface ligands, determined photochemical properties of the core/shell QDs with a given core size and shell thickness.