Measure the door opening at the floor with a tape measure to know how much to cut off the wooden threshold to fit.
Pry the rubber strip from the top of the threshold with the end of a flat-head screwdriver and set it aside. Transfer the measurements onto the wood threshold and use a straightedge to draw a cut line on it with a pencil.
Cut the wood threshold with a circular saw and test fit it into place in the door opening. Sand down the cut end with heavy-grit sandpaper if it needs just a small amount still removed to fit properly.
Drill pilot holes through the threshold and into the doorway floor. Use a 1/4-inch drill bit. Hold the wood piece securely in place while drilling down into the channel for the rubber strip so that the threshold won't move out of place. Insert 2-inch wood screws into the holes and tighten them down through the threshold and into the floor using a Phillips screwdriver.
Trim the rubber strip with a utility knife to fit the new length of the channel. Push the rubber into the channel on the threshold starting at one side and slowly locking it into the wood.
Caulk the seams between the sides of the threshold and the door frame with clear silicone caulk. Place a line of caulk along the base of the threshold at the floor on both sides to seal it from drafts or the elements.