The narrow, color-tunable luminescence of quantum dots (QDs) brought them to the forefront of commercial lighting and solar cells. Indium phosphide (InP) QDs emerged as the most promising replacement for cadmium selenide-based QDs for luminescence in the visible range (450–700 nm). Here, we consider areas of QD synthesis most relevant for future advances in InP. Advances in precursor chemistry, namely single-source precursors, facilitate synthesis of materials with more homogeneous properties. These isolable intermediates have atomically precise structure that introduces a scheme for the atom economy in InP QD synthesis. Methods for obtaining luminescent InP QDs are presented with emphasis on shorter reaction times, fewer steps, and less hazardous reagents. With these advances in luminescence quantum yield (QY), minimization of sample heterogeneity, and enhanced stability, emphasis on reproducibility, safety, and other green chemistry principles can be prioritized. The methods reviewed here highlight areas conducive to goals related to material properties and greener synthetic methods.