“The party can still be for limited government, but a government effective in providing tools to support innovation and entrepreneurship”

…so it is written in this CSM editorial: “Do Republicans have a ‘Yes, we can’?”:

But it will be a party out of power and one that cannot keep riding this elephant in the direction it’s been going. Republicans have too many splits, from libertarians in the West to social conservatives in the South to Rockefeller moderates in the Northeast.

No wonder a “maverick” was able to win the nomination, slipping through those political cracks. The GOP is now at risk of becoming a white, rural party whose core geographic base stretches only from Georgia to Idaho.
[…]
The GOP brand has been reduced to one word – freedom – in the way that the Democrats were stuck with the one-dimensional brand of equality. But if there is one reason for Obama’s victory, it is that he seeks to move his party, and the country, toward that classic American brand: opportunity.

What are their suggestions?

If Republicans want a comeback, they could become the loyal opposition that debates Democrats on the best way to create more opportunities for Americans, allowing them to increase their social mobility through hard work and education.

The party can still be for limited government, but a government effective in providing tools to support innovation and entrepreneurship.

The above in in sync with my beliefs.

Update: I would map closest to what Smitten Eagle call’s a Western Republican:

3) Western. The Western Republican is the Republican of libertarian leanings, generally favoring non-intrusive government in terms of social issues, and also favoring fiscal discipline. They tend to oppose nationalization of anything. They often, but not always, favor a strong national defense. Reagan was a western republican. This is the future of the Republican party, because the Western Republican can capitalize on the whims of the Independent Voter, who is usually fiscally conservative, libertarian socially, and for a strong national defense.