Aside from their conservative and family oriented social values (before they get into the clutches of the Demo welfare machine, at least), many Hispanics are small-business oriented in a way that Republicans should capitalize on. That is, their dream is not uniformly that of going off and becoming, say, a doctor or a lawyer, but running their own business of some sort. This can range from anything to a small grocery store to their own stock brokerage.
I think that approaching Hispanics on the level of their business sense and initiative, which they have but often cannot use in their own countries because of corruption, bureaucracy and instability, is the way to go. We should offer a dynamic, positive message, something that contrasts with the Demo "pity the poor wetbacks on welfare" approach.